T-Mobile to buy owner of Ryan Reynolds-backed Mint Mobile for $1.35 bln (updated)
15/03/2023 13:15
(Adds details, background)
March 15 (Reuters) - Telecom operator T-Mobile US Inc
TMUS.O said on Wednesday it will acquire Ka'ena Corp, the
owner of Ryan Reynolds-backed budget wireless provider Mint
Mobile, for as much as $1.35 billion.
The pay-as-you-go segment is estimated to see a higher
number of subscribers as credit-challenged customers shy away
from hefty monthly bills.
T-Mobile said it will fund the deal with 39% cash and 61%
stock to acquire Ka'ena. The final price to be paid will depend
on Ka'ena's performance during certain periods before and after
the closing.
The deal also includes Ka'ena's Ultra Mobile wireless unit
that offers international calling services, as well as
wholesaler Plum.
(Reporting by Akash Sriram in Bengaluru; Editing by Saumyadeb
Chakrabarty and Uttaresh Venkateshwaran)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/HoodieOnVeshti;))