Five US senators want to ensure Verizon TracFone deal does not raise prices

Five US senators want to ensure Verizon TracFone deal does not raise prices

FILE PHOTO: The Verizon logo is seen on the side of a truck in New York
The Verizon logo is seen on the side of a truck in New York City, on Oct 13, 2016. (Photo: REUTERS/Brendan McDermid)

NEW YORK: Five Democratic US senators on Wednesday urged the Federal Communications Commission ensure Verizon's proposed US$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."

Source: Reuters

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