Verizon Buying Tracfone, in Deal Worth as Much as $7B
Verizon agreed to buy Tracfone from America Movil, in a deal worth as much as about $7 billion that's expected to close in the second half of 2021, the companies said (see here and here). Tracfone is the largest U.S. reseller of prepaid wireless with about 21 million subscribers, 13 million of them using Verizon’s wireless network.
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"Verizon expects to bring its award-winning 4G LTE and 5G networks and other innovative technologies to Tracfone customers, further develop Tracfone’s distribution channels, and expand Tracfone’s market opportunities," the acquirer said Monday morning.