The acquisition is the latest business move from the actor, who has also dabbled in sports team ownership with Wrexham FC and potentially the Ottawa Senators.
Some might describe Ryan Reynolds‘ ascendence from actor to businessman as ordinary magic — and perhaps they’d be correct.
On Wednesday, T-Mobile announced that it acquired Mint Mobile, a mobile virtual network operator, where Reynolds is a lead investor. The purchase is reportedly worth $1.35 billion, and while it’s unclear how much Reynolds’ stake is worth — Variety wrote that it could be as much as 25%.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers,” Reynolds said in a statement released by T-Mobile. “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,” he joked.
T-Mobile is acquiring Mint with 39% coming in cash and the other 61% in stock — plus an added bonus. As part of the purchase, Reynolds will remain in his creative role on behalf of the company. So, that means marketing for millions around the globe on T-Mobile’s platform and his Instagram platform with 48.1 million followers.
“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” Reynolds said. “We think customers are really going to win with a more competitive and expansive Mint and Ultra.”
While significant, it isn’t his first big move in the business space. He sold his Aviation Gin to Diageo in a deal worth $600 million in 2020, not to mention his $2.5 million ownership in Wrexham FC with Rob McElhenney. Next? Potential stake in the Ottawa Senators. In February, Reynolds teamed up with Vaughan, Ontario-based real estate developer, The Remington Group, in a bid to buy the Senators and build a new downtown arena.
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