T-Mobile finalizes $1.35 billion purchase of Mint Mobile
T-Mobile seals the deal worth a whopping $1.35 billion for Mint Mobile! The telecom titan officially announces the acquisition, as per a press release, wrapping up the process that started back in March 2023. Regulatory approval was the remaining hurdle, which the U.S. Federal Communications Commission (FCC) granted last week.
In exchange for its sizeable investment, T-Mobile will get a portion of Mint from Ka'ena Corporation, with an intriguing breakup of 39% cash and 61% stock. To ensure a smooth transition, existing Mint customers will be allowed to switch providers freely for 60 days post-acquisition. What's more, T-Mobile is locking in Mint's renowned $15 per month plan for both current and new customers!
Notable faces like Ryan Reynolds, Mint's public figure, are in line for a substantial payday. Estimates from the Wall Street Journal predict Reynolds will pocket at least $300 million based on calculations made late last year. Reynolds commented on the deal with his usual humor, joking about "Gary from Finance" while praising the Mint team. "Even Gary from Finance...we've been able to rapidly grow this brand," he quipped in his official statement.
In addition to the acquisition, T-Mobile has also promised expanded roaming in Mexico and Canada. Moreover, it plans to integrate T-Mobile features like the "Scam Likely" warning system into Mint devices.
Though critics have expressed concerns about the loss of competition, proponents argue that Mint had already been heavily reliant on T-Mobile's infrastructure for its service. As Mint readies itself to catapult into the stratosphere under T-Mobile's wing, it's time for us, the loyal consumers, to stand back and marvel at the unfolding spectacle!
- The tech industry is set for a major shakeup in 2023 as T-Mobile, a telecom titan, completes the acquisition of Mint Mobile, worth $1.35 billion, as per a press release.
- In the acquisition deal, T-Mobile will acquire a portion of Mint Mobile from Ka'ena Corporation, with 39% in cash and 61% in stock.
- Mint Mobile customers will be allowed to switch providers freely for 60 days post-acquisition, ensuring a smooth transition.
- In addition to the acquisition, T-Mobile has promised expanded roaming in Mexico and Canada, as well as integrating T-Mobile features like the "Scam Likely" warning system into Mint devices, hinting at the future of technology in the tech industry.
