VZ - States press FCC to investigate Verizon's $6.25B Tracfone purchase deal

A coalition of attorneys general from 16 states and the District of Columbia are pressing the FCC to probe Verizon's (VZ) $6.25B deal to acquire prepaid service provider Tracfone, currently part of Carlos Slim's América Móvil (AMX). A letter from the AGs expressed concern about "whether the acquisition of Tracfone by Verizon could significantly reduce millions of Americans’ access to affordable communications services" - and asking the FCC to impose conditions if it goes forward with approval. Part of the concern is the government's Lifeline subsidy program, offering service to 1.7M low-income subscribers in 43 states and D.C. Tracfone is one of the largest providers under the Lifeline program. The Federal Trade Commission granted antitrust clearance to the deal in late November.

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States press FCC to investigate Verizon's $6.25B Tracfone purchase deal