T-Mobile buys cell service provider, Mint Mobile

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March 16, 2023, 2:22 PM GMT+0

The acquisition is a cash-and-stock deal.

Telecom giant, T-Mobile, in a cash-and-stock deal worth $1.35 billion, has bought cell service provider Mint Mobile. As part of the deal, T-Mobile will buy Mint Mobile parent company, Ka'ena Corp.

Mike Sievert, CEO, T-Mobile notes that the company will leverage its resources and size to "supercharge" Mint Mobile. The CEO adds that Mint's current pricing of $15/month would continue.

The deal will close later this year. Mint would continue to operate as a "mostly separate business unit."

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