“Verizon to buy wireless services provider Tracfone in $6.25 billion deal”
September 14, 2020
“Verizon Communications said Monday it would buy wireless services provider Tracfone, a unit of Mexican telecom America Movil, in a $6.25 billion cash and stock deal.
Several mergers in recent years have led to an increasingly concentrated wireless industry in the U.S., with the bulk of control under Verizon, AT&T and T-Mobile, which recently completed its merger with Sprint. Tracfone is the largest prepaid mobile brand in the United States, with approximately 21 million subscribers and more than 90,000 retail locations, which means Verizon will boost its subscriber base considerably. It also plans to sell 5G to Tracfone customers in the coming years and carriers compete to roll out the faster networks…”