According to Bloomberg, T-Mobile is reportedly in talks with Mint Mobile to acquire the company. Neither T-Mobile nor Mint Mobile has yet reacted to the news.
Mint Mobile was founded in 2016 as an MVNO (Mobile Virtual Network Operator), 25% of which was later sold to actor Ryan Reynolds. In recent years, Reynolds has used its fame to promote Mint Mobile as an alternative to giant US mobile operators such as T-Mobile, Verizon and AT&T. Reynolds has 47 million followers on Instagram and 21 million followers on Twitter.
Bloomberg’s report also didn’t provide any details about the potential acquisition. Mint Mobile is a novice mobile operator, so negotiations will take some time. The acquisition is likely to close in the coming months.
Mint Mobile now uses the T-Mobile network
It’s clear Mint Mobile can’t compete with a telecom giant like T-Mobile and should be part of a bigger company if it wants to stay in business. Additionally, Mint does not have a dedicated 4G LTE or 5G service network, it uses T-Mobile infrastructure.
Mint itself is part of a great company called Ultra Mobile. Whether T-Mobile is interested in buying the Mint and Ultra together remains to be seen. T-Mobile will also have to decide whether Mint Mobile can keep its brand or whether it will continue to operate as a sub-brand like Metro by T-Mobile.
We will share more information about the acquisition in the coming weeks. More specifically, the price T-Mobile is prepared to pay to complete the transaction. In 2021, Verizon paid his $6 billion to acquire Tracfone, later launching the Total by Verizon brand.
T-Mobile is currently the second largest mobile service provider in the United States and one of the leaders in 5G development nationwide. However, the company recently decided to close some retail stores and lay off employees, following its uncompromising vision for the 2023 U.S. economy.