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Verizon strikes deal to buy Tracfone for $6.25 billion

It’s good news for Tracfone customers, especially when it comes to network upgrades

Verizon has cut a deal with America Movil to acquire Tracfone, the leading stateside prepaid mobile provider in the U.S. The $6.25 billion price tag includes $3.125 billion in cash and $3.125 billion in Verizon common stock. The deal should close sometime in mid-2021.

Thanks to mergers made in the past few years, like the one between T-Mobile and Sprint, the wireless industry has gradually become smaller. The number of players is shrinking, and those that remain are beco...

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