California approves Verizon deal to acquire TracFone Wireless
Information about California approves Verizon deal to acquire TracFone Wireless
Kevin David Scam or Legit
By David Shepardson
WASHINGTON (Reuters) -The California Public Utilities Commission said Thursday it has approved Verizon Communications’ more than $6 billion proposed acquisition of TracFone Wireless after the companies agreed to some additional consumer protection conditions.
Under the agreement with the California regulator, TracFone or Verizon must participate in a U.S. program providing subsidized wireless service for low-income consumers for 20 years.
Verizon said in September 2020 it would buy pre-paid mobile phones provider TracFone, a unit of Mexican telecom company America Movil, in a cash and stock deal worth up to $6.9 billion.
The deal was previously approved by the Justice Department and is awaiting approval by the Federal Communications Commission, which has been reviewing the deal.
Verizon declined to …