Actor Ryan Reynolds’ reported windfall of over $270 million stemming from T-Mobile US Inc.’s TMUS proposed acquisition of Mint Mobile could be in danger.
What Happened: In March, T-Mobile announced its plans to acquire Mint Mobile, which is owned by the "Deadpool" actor.
However, the Department of Justice (DOJ) could intervene and block the sale due to antitrust concerns, the New York Post reported on Thursday.
The DOJ's antitrust division is reportedly considering a lawsuit to prevent T-Mobile’s $1.35 billion acquisition, citing fears that it could lead to a consolidation trend that could increase prices for wireless customers.
According to the Post, insiders believe that the motive behind going after Mint Mobile is to make an example of a high-profile celebrity deal. Columbia law professor and securities expert John Coffee told the newspaper that regulators have adopted a similar tactic of pursuing public figures before.
“Now, everyone in Hollywood will notice,” Coffee said.
Earlier this week, Reynolds, who recently invested in Canadian payment firm Nuvei, said that his primary strategy is centered on creating a strong brand, according to the Post. Critics, however, are skeptical that building a brand for a prepaid phone service results in any cost savings for consumers, the Post noted.
Reynolds acquired a partial ownership in Mint Mobile in 2019.
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