FCC approves $6 billion Verizon-Tracfone acquisition
On Monday, the Federal Communications Commission voted to approve Verizon Wireless’ purchase of Tracfone in a deal worth more than $6 billion, positioning Verizon to become one of the largest prepaid service providers in the US.
Tracfone is the largest reseller of wireless devices in the US and maintains over 20 million subscribers with more than 90,000 retail locations. Verizon’s Tracfone acquisition combines the largest mobile virtual network operator (MVNO) with the largest wireless provider in the country. When Verizon first proposed the deal last September, the company said that the acquisition would bolster Tracfone’s networks while making low-income wireless services more competitive.
“After rigorous review, the Commission found…