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T-Mobile In Talks To Acquire Mint Mobile

 |  January 12, 2023

T-Mobile has reportedly been in talks to acquire Mint Mobile.

Mint Mobile is 25% owned and often promoted by actor Ryan Reynolds and offers budget plans on the network of T-Mobile, which is the second-largest mobile service provider in the United States, Bloomberg reported Thursday (Jan. 12).

No decision has been made, and it’s not known if Mint Mobile is looking to sell or remain independent, the report said, citing unnamed sources.

T-Mobile and Mint Mobile did not immediately reply to PYMNTS’ request for comment.

Mint Mobile offers wireless plans starting at $15 a month. It’s able to do so by operating exclusively online, offering bulk plans that start at three months and allowing customers to choose plans based on the amount of data they need, according to the company’s website.

Read more: T-Mobile & Apple To Sell Small-Business Connectivity Plan

T-Mobile added a record number of customers in 2022, growing by 6.4 million postpaid customers and 2 million broadband customers over that 12-month period, the company said in a Jan. 4 press release.

“It’s clear that T-Mobile’s ability to offer both the best network and value is bringing new customers to the Un-carrier and enticing those who join us to stay,” T-Mobile CEO Mike Sievert said in the release. “And our momentum won’t stop as we continue to translate our long-established 5G lead into overall network leadership and execute on our unique growth strategy.”

T-Mobile is also among those in the telecom industry who are looking to provide financial access to unbanked households by offering telecom payments.

Many households lack access to traditional banking services because they don’t have enough savings to open an account, or they don’t have the means to visit a traditional bank to access services.

“The pandemic worsened the situation for millions who live paycheck to paycheck, and rising inflation has only made things worse, causing many to dip into savings for everyday expenses,” Kevin McLaughlin, senior vice president, consumer group, CMO at T-Mobile, told PYMNTS in an interview posted in December. “Language can also be a barrier to traditional financial services. Hispanic households are more than twice as likely as the average U.S. household to be unbanked.”