Verizon Completes Tracfone Acquisition after FCC Approval
upstart writes:
Verizon completes Tracfone acquisition after FCC approval:
Verizon on Tuesday said it had completed its acquisition of prepaid mobile company Tracfone, just a day after the US Federal Communications Commission voted to approve the $6 billion deal. Verizon announced the acquisition in September, pending the regulatory approval that finally came this week.
[...] When the deal was announced, Verizon's CEO Hans Vestberg tweeted that the company was excited to "put the full support of Verizon behind this business." It's another big investment from the wireless carrier, following Verizon's spending $53 billion on radio airwaves this March.
[...] The FCC's approval came with a long list of "binding conditions to address potential harms and to ensure the transaction will be in the public interest," according to an FCC press release. Those conditions are largely centered on keeping Tracfone's products and services accessible and affordable for low-income consumers and ensuring Tracfone's existing customers don't get left behind in the transition.
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