Five U.S. senators want to ensure Verizon TracFone deal does not raise prices

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(Reuters) – Five Democratic U.S. senators on Wednesday urged the Federal Communications Commission ensure Verizon’s proposed $6.9 billion acquisition of TracFone does not raise prices or impact government programs to provide access to mobile phones for low-income Americans.

Verizon said in September it would buy Tracfone, a unit of Mexican telecom company America Movil, in a cash and stock deal. Senators Richard Blumenthal, Sheldon Whitehouse, Dianne Feinstein, Ron Wyden and Ed Markey said in a letter “Verizon would have significant incentives and opportunities to push subscribers from Lifeline and inexpensive prepaid services to higher revenue plans.”

(Reporting by David Shepardson; Editing by Chizu Nomiyama)



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