June 24, 2024
Gulf
Business

Ryan Reynolds joins other celebrities in $1.35 billion Mint Mobile deal

The latest celebrity to gain a major acquisition is Ryan Reynolds. T-Mobile (TMUS) acquired Reynolds-backed Mint Mobile for $1.35 billion on Wednesday. There are 61% of shares in stock and 39% in cash in the sale. The actor, who holds a minority stake in Mint Mobile, will continue to be the face of the company as he intends to “continue for years” with the company.

“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,” Reynolds said jokingly in a statement.

Companies have gotten involved in celebrity business ventures before. Likewise, other celebrities with large private businesses have sold their stakes to larger companies, especially in the spirits and cosmetics industries.