Verizon: agrees to acquire Tracfone
(CercleFinance.com) - Verizon has announced that it has reached an agreement with America Movil to acquire Tracfone, a leading prepaid economy mobile operator in the US, for 6.
25 billion dollars, half of which is in cash and half in Verizon shares.
The telecommunications giant added that up to an additional 650 million dollars could be added to this amount, depending on the achievement of certain performance criteria and other commercial arrangements.
Verizon expects this transaction to be earnings acretive from the first year following its completion, which is expected in the second half of 2021, subject to regulatory authorizations and other customary conditions.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
25 billion dollars, half of which is in cash and half in Verizon shares.
The telecommunications giant added that up to an additional 650 million dollars could be added to this amount, depending on the achievement of certain performance criteria and other commercial arrangements.
Verizon expects this transaction to be earnings acretive from the first year following its completion, which is expected in the second half of 2021, subject to regulatory authorizations and other customary conditions.
Copyright (c) 2020 CercleFinance.com. All rights reserved.