Verizon Wireless Gobbles Up Tracfone and 21 Million Prepaid Mobile Customers


The US mobile carrier market continues to consolidate. The latest acquisition comes as Verizon begins to buy Tracfone, a popular prepaid carrier, with phones and and prepaid service cards a common sight on Walmart electronics shelves. The deal includes $3.125 billion in cash and an equal amount in stock, plus $650 in extra cash for hitting performance targets.

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