T-Mobile officially finalizes $1.35 billion deal Acquisition of Mint Mobile, according to press release Telecommunications company. The deal was first announced in March 2023 but is subject to regulatory approval.
The FCC approved the deal last week after T-Mobile committed to letting existing Mint customers switch providers. 60 days After acquisition. T-Mobile has also pledged to keep Mint’s $15-a-month deal for new and existing customers, which is often promoted in the prepaid carrier’s ads.
T-Mobile acquired Mint from Ka’ena Corporation, which also sold smaller mobile assets Ultra Mobile and Plum to the wireless giant.The transaction includes 39% in cash and 61% in stocks.
Mint Mobile spokesperson Ryan Reynolds, who took a 25% stake in the company in 2019, is expected to earn at least $300 million, according to the latest estimates from the Wall Street Journal. last year.
Reynolds, who often makes jokes in Mint’s advertising campaigns, joked he was “the Gary of finance” when announcing the final deal.
“I’m so proud of the entire Mint Mobile team. Even Gary in Finance has been a real stickler over the years,” said a statement. Press release Announce the completion of the transaction. “By putting customers and value first, while not being afraid to move quickly and seize opportunities, we have been able to grow this brand quickly. T-Mobile is the perfect partner to help us strengthen Mint, and we are very grateful for their support.” cooperate.
Mint also announced expanded roaming coverage in Mexico and Canada, and T-Mobile will soon provide Mint with T-Mobile features, including a “Possibly Scam” warning that flashes on your phone for known scam callers.
Critics of the deal worry about losing competition, but defenders point out that Mint already relies heavily on T-Mobile’s infrastructure to provide service.
