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

Verizon said in September it would buy Tracfone

  
Showgowers visit the Verizon booth on the first day of the Consumer Electronics Show in Las Vegas

Showgowers visit the Verizon booth on the first day of the Consumer Electronics Show in Las Vegas

REUTERS/Rick Wilking

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) ((David.Shepardson@thomsonreuters.com; 2028988324;))


More From Technology