Verizon gains FCC approval for Tracfone acquisition
Summary
Tracfone is the largest wireless reseller in the U.S. and serves more than 20 million subscribers, with more than half of those using Verizon’s network through an existing wholesale agreement. The FCC ultimately concluded, though, that a series of “demanding conditions” and an oversight period of more than seven years from the close of the transaction would “adequately address” the concerns. -Maintain Tracfone’s existing MVNO agreements and service plans for customers outside of Verizon’s network coverage areas, including Puerto Rico, for three years. -Extend its 60-day unlocking period to all 700 MHz C Block devices purchased from Tracfone and activated on the Verizon network, and provide notice of that policy to customers. Customers will benefit with enhancements in devices, network performance and innovative products and services — as well as a continued commitment to Lifeline,” said Kathy Grillo, Verizon SVP and DGC of public policy and government affairs, in a statement, adding, “We will work hard to serve Tracfone’s current customers and look forward to serving new ones in this dynamic and fast-growing marketplace.”