Verizon seals $6.9bn TracFone acquisition as it targets value market

US mobile operator Verizon Wireless has signalled its intention to expand into the “value” segment of the market with the $6.9 billion acquisition of US low-cost carrier TracFone from America Movil.

Founded in 1996, TracFone operates Mobile Virtual Network Operator (MVNO) services under several different brands, including Simple Mobile, Page Plus Mobile and Total Wireless, powered by wholesale agreements with several major US operators.


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