FILE PHOTO: The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016. REUTERS/Brendan McDermid/File Photo
July 21, 2021
(Reuters) – Five Democratic U.S. senators on Wednesday urged the Federal Communications Commission ensure Verizon’s proposed $6.9 billion acquisition of TracFone does not raise prices or impact government programs to provide access to mobile phones for low-income Americans.
Verizon said in September it would buy Tracfone, a unit of Mexican telecom company America Movil, in a cash and stock deal. Senators Richard Blumenthal, Sheldon Whitehouse, Dianne Feinstein, Ron Wyden and Ed Markey said in a letter “Verizon would have significant incentives and opportunities to push subscribers from Lifeline and inexpensive prepaid services to higher revenue plans.”
(Reporting by David Shepardson; Editing by Chizu Nomiyama)
Source: One America News Network
