T-Mobile Is Buying Mint Mobile In A $1.35 Billion Deal

The prepaid wireless carrier will be owned by T-Mobile, the second-largest wireless carrier in the US, following a payout to parent company Ka'ena Corporation.

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T-Mobile is purchasing Mint Mobile
Image: Joe Raedle (Getty Images)

T-Mobile, the second largest wireless carrier in the U.S. announced on Wednesday it is buying prepaid wireless carrier Mint Mobile from parent company Ka’ena Corporation in a deal worth $1.35 billion. The acquisition will also include Ka’ena subsidiaries Ultra Mobile (another prepaid wireless service) and wireless wholesaler Plum.

In a press release, T-Mobile CEO Mike Sievert said that “Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers... now we are excited to use our scale and owners’ economics to help supercharge it - and Ultra Mobile - into the future.”


Mint founders David Glickman and Rizwas Kassim will continue to work with the subsidiary by managing the brands under T-Mobile. Actor Ryan Reynolds became a partial owner of Mint Mobile in 2019 and holds roughly a 25% stake in the company. He will stay on as the company’s spokesperson.

“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,” Reynolds said in a release. “I am so proud of the entire Mint team and so excited for what’s to come.”


Although the company reported the approximate payout amount $1.35 billion, the final value of the deal is tied to Ka’ena’s performance before and after it closes, and consists of a combination of 39% in cash and 61% stock.

T-Mobile will reportedly keep Mint’s prices—currently $15 per month for unlimited talk and text and up to four GB of data per month—the same following closure of the deal.


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