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U.S. FCC approves Verizon acquisition of TracFone Wireless -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A man is seen standing next to Verizon’s logo at the Mobile World Congress, Barcelona, Spain on February 26, 2019. REUTERS/Sergio Perez

(Reuters] – Monday’s announcement by the Federal Communications Commission (FCC), that they had approved Verizon Communications (NYSE:) TracFone Wireless is being acquired for more than $6B.

This announcement was made after the California Public Utilities Commission (CPU) approved the deal on Thursday after Verizon agreed upon additional consumer protection conditions. Verizon stated that in September 2020, it would purchase TracFone (pre-paid mobile phone service provider) from Mexico. America Movil (NYSE:) in cash-and stock deals worth as high as $6.9billion. The FCC’s approval will allow the transaction to close within the next few days.

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