Thursday, July 18, 2024

Ryan Reynolds' Mint Mobile Partnership With T-Mobile Reportedly Under DOJ Scrutiny – T-Mobile US (NASDAQ: TMUS)


actor Ryan Reynolds‘ reported windfall profits of over $270 million stemming from T-Mobile US Inc.‘S Tmus proposed acquisition of mint mobile may be in danger.

What happened: In March, T-Mobile announced its plans to acquire Mint Mobile, which is owned by the “Deadpool” actor.

Although Department of Justice (DOJ) can intervene and block the sale due to anti-trust concerns, new york post informed of on Thursday.

See also: The time Ryan Reynolds used ChatGPT to craft a commercial: The result was hilarious…and ‘mildly terrifying’

The DOJ’s Antitrust Division is reportedly considering a lawsuit to block its $1.35 billion acquisition of T-Mobile, citing fears it could lead to a consolidation trend that could drive up prices for wireless customers. can increase.

According to the post, insiders believe the motive behind Mint Mobile’s move is to make an example of a high-profile celebrity deal. John Coffey, a Columbia law professor and securities expert, told the newspaper that regulators have previously pursued similar tactics of pursuing public figures.

“Now, everyone in Hollywood will notice,” said Coffey.

Earlier this week, Reynolds, who recently invested in Canadian payments firm Nuvei, said his primary strategy is focused on building a strong brand, according to the Post. Critics doubt that creating a brand for prepaid phone service passes any cost savings to consumers, the Post noted.

Reynolds acquired partial ownership in Mint Mobile in 2019.

Read further: Ryan Reynolds’ Mobile Company Was Bought From T-Mobile For $1.35B: Will He Buy An NHL Team With That Money?

Photo: shutterstock