News Formal

U.S. FCC approves Verizon acquisition of TracFone Wireless

  • 📰 Reuters
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The U.S. Federal Communications Commission said on Monday it has approved Verizon Communications Inc's more than $6 billion acquisition of pre-paid mobile phones provider TracFone Wireless with conditions to protect low-income consumers.

A man stands next to the logo of Verizon at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio PerezWASHINGTON, Nov 22 - The U.S. Federal Communications Commission said on Monday it has approved Verizon Communications Inc's

The FCC's announcement followed the California Public Utilities Commission's approval of the deal last Thursday after Verizon agreed to additional consumer-protection conditions. Verizon is the largest U.S. wireless carrier by subscribers. TracFone, a unit of Mexican telecom company America MovilVerizon said in September 2020 it would buy TracFone in a $6.25 billion cash and stock deal with up to $650 million in potential additional future payments.

Verizon welcomed the FCC's approval, saying the deal would "provide customers with the best of both worlds: more choices, better services and new features."Under the California agreement, TracFone or Verizon must participate in Lifeline for 20 years. Verizon said it has committed to participate in Lifeline for at least seven years and will offer existing TracFone Lifeline rate plans for at least three years.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix's next acquisition: A Vancouver VFX studioNetflix on Monday announced it will acquire visual effects company Scanline VFX, as the streamer ramps up production in regions like Europe and Asia.
Source: latimes - 🏆 11. / 82 Read more »

Here are the stock market's trading hours for Thanksgiving and Black FridayU.S. financial markets are closed Thursday for Thanksgiving, and will close early on Black Friday. wow
Source: MarketWatch - 🏆 3. / 97 Read more »