California approves Verizon deal to amass TracFone Wi-fi

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WASHINGTON (Reuters) – The California Public Utilities Fee stated Thursday it has permitted Verizon Communications’ greater than $6 billion proposed acquisition of TracFone Wi-fi after the businesses agreed to some further client safety situations.

Below the settlement with the California regulator, TracFone or Verizon should take part in a U.S. program offering backed wi-fi service for low-income shoppers for 20 years.

Verizon stated in September 2020 it will purchase TracFone, a unit of Mexican telecom firm America Movil, in a money and inventory deal.

(Reporting by David Shepardson, Modifying by Rosalba O’Brien)



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