WASHINGTON (Reuters) – The California Public Utilities Commission said Thursday it has approved Verizon Communications’ more than $6 billion proposed acquisition of TracFone Wireless after the companies agreed to some additional consumer protection conditions.
Under the agreement with the California regulator, TracFone or Verizon must participate in a U.S. program providing subsidized wireless service for low-income consumers for 20 years.
Verizon said in September 2020 it would buy TracFone, a unit of Mexican telecom company America Movil, in a cash and stock deal.
(Reporting by David Shepardson, Editing by Rosalba O’Brien)
