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Ryan Reynolds-backed wireless company sold as part of $1.3 billion deal

Ryan Reynolds-backed wireless company sold as part of $1.3 billion deal
Ryan Reynolds / © Cover Media

Ryan Reynolds has sold his stake in U.S. wireless company Mint Mobile.

On Wednesday, executives at T-Mobile announced that they had entered into an agreement to acquire Ka'ena Corporation and its subsidiaries and brands, including the successful direct-to-consumer (D2C) prepaid wireless firm, for a maximum of $1.35 billion.

Reynolds, who purchased an ownership stake in Mint back in 2019, will continue on in his creative role at the company.

"Mint Mobile is the best deal in wireless and today's news only enhances our ability to deliver for our customers," he said in a statement, before adding jokingly: "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. I am so proud of the entire Mint team and so excited for what's to come."

Mint founders David Glickman and Rizwan Kassim will remain onboard at T-Mobile to manage the brands.

And in a separate tweet, Reynolds insisted he was "incredibly proud" to be part of the team.

"I never dreamt I'd own a wireless company and I certainly never dreamt I'd sell it to T-Mobile. Life is strange and I'm incredibly proud and grateful," the Deadpool star added.

In recent years, Reynolds has found success as an investor.

He acquired a stake in Aviation American Gin in 2018, which he later sold to beverage giant Diageo, and purchased Welsh football club Wrexham alongside fellow actor Rob McElhenney in September 2020.

© Cover Media

Source: © Cover Media

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