The US Federal Communications Commission (FCC) has approved T-Mobile’s acquisition of Kaena Corporation and its subsidiaries, including the notable brands Mint Mobile and Ultra Mobile, as well as wholesaler Plum. The transaction is valued at $1.35 billion. The FCC’s decision comes after an evaluation of the competitive effects and potential public interest benefits. T-Mobile’s acquisition includes a voluntary commitment to unlock handsets for Mint and Ultra Mobile devices. Kaena’s brands amass between two to three million subscribers, with Mint Mobile being seen as the acquisition’s primary asset. Both Mint and Ultra Mobile operate on T-Mobile’s network, while Plum has a wholesale agreement with T-Mobile. Founders David Glickman and Rizwan Kassim of Mint will join T-Mobile managing the brands, while Mint will run as a separate business unit with part-owner Ryan Reynolds staying involved. Competing MVNO Lycamobile raised concerns about the acquisition’s anti-competitive nature, citing its own struggles to negotiate fair terms with T-Mobile. Despite these concerns, T-Mobile deflected the complaint as meritless, and the FCC’s approval has now finalized the deal.

Telecommunications, Regulatory Bodies,United States