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Ryan Reynolds-backed Mint Mobile will be acquired by T-Mobile for up to $1.35 billion

 Ryan Reynolds is expected to profit from his investment in Mint Mobile just under three and a half years after becoming the Deadpool actor the company's public face. Ka'ena, the parent company of Mint Mobile, will be acquired by T-Mobile for up to $1.35 billion in cash and equity, according to the announcement.

When the deal closes, which is anticipated to happen later this year, the final price will be determined based on Ka'ena's performance both before and after that time. Ka'ena also owns wholesaler Plum and international calling service Ultra Mobile.

The New York Post reported in 2021 that Reynolds is thought to control 20 to 25 percent of Mint. He will continue in his artistic capacity as Mint spokesperson. In late 2019, Mint, which was created in 2015, separated from Ultra. 

The success of Mint, a mobile virtual network provider that has operated on T-Mobile from its beginning, can be attributed to its personable salesperson and cost-effective pricing. On the news that Mint will maintain its $15 per month rate, T-Mobile CEO Mike Sievert stated in a YouTube video that it will.

According to a statement from T-Mobile, Mint and Ultra will enhance its current prepaid offerings. The brands will continue to be managed by the founders of Mint, David Glickman and Rizwan Kassim, and according to T-Mobile, they will typically function as a separate business unit. T-Mobile is aiming to utilise Mint's marketing expertise and its well-known co-owner in the meanwhile.

We are thrilled to use our scale and owners' economics to help supercharge it — and Ultra Mobile — into the future, Sievert said. "Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-leading carrier's 5G network," he added. We'll gain over time by implementing the marketing strategy for which Mint has become renowned in more T-Mobile areas.

According to Reynolds, "Mint Mobile is the best offer in cellular, and today's news only strengthens our capacity to deliver for our customers. We are thrilled that T-Mobile outbid my mom Tammy Reynolds' aggressive last-minute offer since we think the strength of their 5G network will be a better strategic fit than my mom's slightly above-average mahjong abilities.

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