T-Mobile is buying Mint Mobile from Ryan Reynolds for up to $1.35 billion Liberal-news

T-Mobile is buying Mint Mobile, the low-cost mobile operator that is partly owned by Ryan Reynolds. In a post published on wednesdayT-Mobile announced that the deal is valued at up to $1.35 billion and comes as T-Mobile looks to build out its prepaid phone offering.

The acquisition is due to close by the end of this year and involves a purchase of 39 percent in cash and 61 percent in shares of Mint and Ultra Mobile’s parent company, Ka’ena Corporation. However, the price could change as it depends on the performance of the Mint. As T-Mobile CEO Mike Sievert noted in a youtube video posted Wednesday, T-Mobile will maintain Mint’s $15 per month price.

“In the long term, we will also benefit from applying the marketing formula that Mint has become famous for in more parts of T-Mobile. We believe customers are truly going to win with more competitive and expansive Mint and Ultra,” Sievert says in a statement.