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California approves Verizon deal to acquire TracFone Wireless

WASHINGTON, Nov 18 (Reuters) - The California Public Utilities Commission said Thursday it has approved Verizon Communications’ more than $6 billion proposed acquisition of TracFone Wireless after the companies agreed to some additional consumer protection conditions.

Under the agreement with the California regulator, TracFone or Verizon must participate in a U.S. program providing subsidized wireless service for low-income consumers for 20 years.

Verizon said in September 2020 it would buy TracFone, a unit of Mexican telecom company America Movil, in a cash and stock deal.

Reporting by David Shepardson, Editing by Rosalba O’Brien

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