Ryan Reynolds' Mint Mobile closes acquisition deal with T-Mobile for over P74 billion
Other than making noise at the box office, Ryan Reynolds is also on fire in the field of business.
In a video released on Wednesday, March 15, the Deadpool star—along with T-Mobile CEO Mike Sievert—announced the acquisition of his wireless mobile provider company Mint Mobile by T-Mobile, one of the leading telecommunications providers in the United States.
“I am thrilled to announce that T-Mobile plans to acquire Mint Mobile, a wireless brand that shares our customer-first commitment,” said Sievert.
According to the statement released by T-Mobile, the deal will acquire Mint Mobile’s “sales, marketing, digital, and service operations, and plans to use its supplier relationships and distribution scale,” in order to grow and provide competitive pricing to its customers.
“We’re incredibly excited. Mint has run on T-Mobile's network since its inception and the reason people have such a great experience with Mint is due to the T-Mobile network, especially its unrivaled lead in 5G,” said Reynolds.
In closing the deal, T-Mobile will pay an amount of $1.35 billion (over P74 billion) in a combination of 39% cash and 61% stock.
Reynolds will also retain his creative role on behalf of Mint.
Prior to this, the 46-year-old actor and businessman has sold his alcohol company Aviation American Gin in 2020 to European beverage company Diageo, where he had an “unspecified minority stake,”—for $335 million (over P18 billion) upfront, and an additional $275 million (over P15 billion), depending on the company’s performance through the next 10 years,” according to Forbes.