Verizon wants to buy Tracfone. In order to gain favor to get the approval they are vowing to continue to support low cost wireless service for at least three years.
Verizon Communications Inc. told federal regulators it would keep supporting low-cost wireless service for three years if it is allowed to buy TracFone, a sign of deepening negotiations in the carrier’s effort to control a giant in prepaid cellphone plans.
“We’re very comfortable to make that commitment to…continued participation in Lifeline for the next three years in any geography where TracFone provides Lifeline services today,” Ronan Dunne, Verizon’s chief of consumer services, said in an interview Thursday. The carrier will also provide ultrafast fifth-generation, or 5G, service to Lifeline customers within six months of the deal’s closing, he added.Wall Street Journal