Verizon to buy prepaid reseller Tracfone for $7 billion

Verizon intends to buy Tracfone, the prepaid wireless reseller, for about $7 billion. If the deal closes, Verizon will become the largest prepaid provider with about 25 million subscribers. Verizon currently has four million prepaid subscribers, compared to 21 million at Tracfone, 20 million at T-Mobile, and 18 million at AT&T. 

Tracfone is owned by Mexico’s América Móvil SAB and resells wireless services under the names Tracfone, StraightTalk, Net10, SafeLink, and Simple Mobile. 

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Verizon to buy TracFone in deal valued at nearly $7 billion (Wall Street Journal, Sep. 14, 2020)