U.S. FCC chair circulates order to approve Verizon TracFone deal
Information about U.S. FCC chair circulates order to approve Verizon TracFone deal
By David Shepardson
WASHINGTON (Reuters) – Federal Communications Commission chair Jessica Rosenworcel on Friday circulated an order among the commissioners to approve Verizon Communications’ more than $6 billion proposed acquisition of TracFone Wireless, a document showed.
Rosenworcel’s proposed approval order comes after the California Public Utilities Commission said Thursday it approved the deal after Verizon agreed to some additional consumer protection conditions. 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.
Sources told Reuters the deal could be approved by the four-member FCC as soon as later on Friday.
Under the agreement with the California regulator, TracFone or Verizon must participate in a U.S. program providing subsidized …