T-Mobile has entered into an agreement to acquire the parent company of Mint Mobile, a direct-to-consumer prepaid wireless company partially owned by actor Ryan Reynolds.
"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 joked.
Mint operated on T-Mobile's 5G network prior to the deal, but now the larger mobile provider will take over Mint's sales, marketing, digital, and service operations with the goal of using its bigger scale to offer more competitive prices.
"Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier's leading 5G network and now we are excited to use our scale and owners' economics to help supercharge it — and Ultra Mobile — into the future," said Mike Sievert, CEO of T-Mobile, in a press release.
T-Mobile will also acquire Ultra Mobile and the wholesaler Plum as part of its $1.35 billion purchase of parent company Ka'ena Corporation.
"Over the long-term, we'll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile," Sievert said. "We think customers are really going to win with a more competitive and expansive Mint and Ultra."
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
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A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
