Verizon to acquire Tracfone

hawki · Sep 14, 2020

"Verizon to acquire Tracfone...

Tracfone is the largest reseller of wireless services in the US, serving approximately 21 million subscribers through a network of over 90,000 retail locations nationwide..."

https://www.verizon.com/about/news/verizon-to-acquire-tracfone

mood · Aug 12, 2021

Verizon vows to protect Tracfone’s low-income users in new merger promise
August 12, 2021
https://www.theverge.com/2021/8/12/22621905/verizon-tracfone-merger-lifeline-fcc-public-interest

On Thursday, Verizon announced a range of new public commitments to protect low-income consumers in connection with its proposed acquisition of Tracfone. The commitments are part of a deal with public-interest groups and communications workers unions, who have agreed to support the acquisition on the basis of today’s announcement.

For its part of the deal, Verizon pledges to continue to provide Tracfone’s Lifeline subsidy programs for at least three years after the merger closes. Verizon is also promising to offer a subsidized 5G program for low-income Tracfone users. According to the Communication Workers of America (CWA), over 1.7 million Tracfone customers depend on the Lifeline program.

“These commitments ensure TracFone customers will continue to have access to Lifeline, an essential program for millions of families,” senior CWA researcher Brian Thorn said in a statement Thursday.
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EASTER · Aug 12, 2021

And just when i thought i was thru with those sharks.

mood · Nov 22, 2021

FCC approves Verizon-Tracfone acquisition, demanding 'strong' consumer protections
November 22, 2021
https://www.cnet.com/tech/mobile/fc...sition-demanding-strong-consumer-protections/

The Federal Communications Commission voted on Monday to approve Verizon's $6 billion bid for prepaid mobile company Tracfone. Verizon announced the acquisition back in September, pending the regulatory approval that finally came this week.

However, 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 around 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.
The FCC said Verizon will have to maintain existing packages and guarantee affordable 5G products and services to Tracfone customers, among other conditions.
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Verizon to acquire Tracfone

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