Verizon to buy U.S. MVNO Tracfone in US$6.25-billion deal

NEW YORK — Verizon announced Monday it has reached an agreement with America Movil to acquire Tracfone, the largest mobile virtual network operator (MVNO) in the United States, serving approximately 21 million subscribers. Tracfone is a leading pre-paid and value mobile provider in the U.S. and a long-time partner of Verizon. Tracfone currently supports more than 13 million of its subscribers using Verizon’s wireless network through an existing wholesale agreement. (Ed note: With 120 million subscribers, Verizon is America’s largest carrier buying the country’s largest MVNO.) America Movil is owned by Mexican billionaire Carlos Slim. The proposed acquisition of Tracfone...