Market News

T-Mobile (NASDAQ:TMUS) Is Considering Mint Mobile Takeover

Story Highlights

T-Mobile is reportedly considering acquiring the budget wireless plan provider, Mint Mobile. The potential deal is in line with the company’s efforts to bolster its position in the wireless network space.

T-Mobile (NASDAQ:TMUS), a wireless network operator in the U.S., is considering Mint Mobile as a potential acquisition target. The news was reported by Bloomberg, citing people familiar with the matter.

Mint Mobile, a mobile virtual network operator, is said to have been considering a sale for some time now. Deadpool’s action hero Ryan Reynolds currently owns about one-fourth of the company, the report stated. Reynolds helped Mint Mobile gain exposure by starring in TV ads and marketing it to his wide social media fan base.

It is worth highlighting that Mint Mobile currently runs on T-Mobile’s network, as it does not operate its own 4G LTE or 5G service. This should make the post-acquisition transition process easier for both parties.

The businesses have not yet made a final decision. Also, there are chances that Mint Mobile could continue to work independently or be sold to another party.

T-Mobile’s acquisition strategy appears to be working well for the company. The Sprint Corporation’s takeover in 2020 provided a boost to T-Mobile’s 5G network. This supported the company’s outstanding performance in 2022 and helped beat rival companies such as Verizon (VZ) and AT&T (T).

Should You Buy TMUS Stock?

The consensus among analysts is a Strong Buy based on 14 Buys and 1 Hold. The average T-Mobile price target of $182.62 implies upside potential of 22.7% from current levels.

TMUS stock has already gained about 7% so far in 2023. Moreover, T-Mobile scores a “Perfect 10” on TipRanks’ Smart Score rating system, pointing to its potential to outperform.

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