T-Mobile announced on Wednesday it will acquire Mint Mobile from Canadian Ryan Reynolds, who purchased the mobile virtual network operator (MNVO) back in November 2019, to bolster its prepaid offerings.
The deal will see T-Mobile pay up to $1.35 billion to acquire Mint Mobile and also Ultra Mobile and Plum, two other wireless companies owned by Ka’ena, the parent company of Mint.
“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier’s leading 5G network and now we are excited to use our scale and owners’ economics to help supercharge it – and Ultra Mobile – into the future,” said Mike Sievert, CEO of T-Mobile, in a statement. “Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra.”
I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile. Life is strange and I’m incredibly proud and grateful. #MintMobile
— Ryan Reynolds (@VancityReynolds) March 15, 2023
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers. We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly-above-average mahjong skills. I am so proud of the entire Mint team and so excited for what’s to come,” said Ryan Reynolds.
A hilarious video announcement titled “Minty News” can be seen below (the heading on the Mint Mobile website is titled, “Two Excited Guys, One Video”, a play on an infamous internet video from 16 years ago):
Reynolds will remain in his creative role on behalf of Mint Mobile, after the acquisition. He offered some wild plans at Mint Mobile that generated lots of interest, such as a limited-time 25-year cellphone plan for $2,500.
Shortly after Reynolds acquired Mint Mobile, he said he was “trying” to bring his wireless service to Canada. In November 2021, Reynolds launched a billboard in downtown Toronto asking Canadians to contact their Members of Parliament about Mint Mobile. The wireless services relies on T-Mobile as it resells the latter to customers at cheaper rates.
It’s likely Mint Mobile will never debut in Canada, as the mere hint of an American telco entering here made the ‘Big 3’ freak out a decade ago.
