Verizon announces plans to acquire Tracfone Wireless in 2021

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Verizon is officially announcing its plans to acquire Tracfone (from Mexican telecom company America Movil), the largest reseller of mobile service in the US for more than $6 billion between cash, common stock, and future cash. Among the Tracfone brands combined, there are about 21 million subscribers in the US (most of which are in the low-income segment) and the parent brand already connects 13 million subscribers to Verizon towers. Tracfone services (and sometimes even devices) is(/are) sold at more than 90,000 retail locations in the US, including Walmart, Dollar General, CVS Pharmacy,...

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