Verizon announces plans to acquire Tracfone Wireless in 2021

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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