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MarketScreener Homepage  >  Equities  >  Nyse  >  Verizon Communications Inc.    VZ

VERIZON COMMUNICATIONS INC.

(VZ)
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Verizon Communications : to Buy Wireless Reseller TracFone for $6.25 Billion

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09/14/2020 | 08:29am EDT

By Drew FitzGerald

Verizon Communications Inc. said it has agreed to buy wireless reseller TracFone for about $6.25 billion in cash and stock, bringing the country's largest reseller of cellphone services under the wing of the country's biggest wireless provider.

TracFone, a unit of Mexico's América Móvil SAB, operates in the U.S. under its namesake brand as well as StraightTalk and Net10. The company doesn't run its own physical network in the U.S. and instead rides on other cellphone carriers' systems for a fee.

About 13 million of TracFone's 21 millions subscribers already use Verizon's network through an existing agreement.

Verizon said the deal will include about $3.125 billion of cash and $3.125 billion in Verizon shares. TracFone could get an additional $650 million cash payment tied to some performance measures and other commercial arrangements.

Write to Drew FitzGerald at andrew.fitzgerald@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. 2.02% 14.16 End-of-day quote.-6.23%
VERIZON COMMUNICATIONS INC. -0.87% 56.75 Delayed Quote.-7.57%
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Financials (USD)
Sales 2020 128 B - -
Net income 2020 18 391 M - -
Net Debt 2020 107 B - -
P/E ratio 2020 12,8x
Yield 2020 4,37%
Capitalization 235 B 235 B -
EV / Sales 2020 2,66x
EV / Sales 2021 2,56x
Nbr of Employees 135 300
Free-Float 96,4%
Chart VERIZON COMMUNICATIONS INC.
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Verizon Communications Inc. Technical Analysis Chart | VZ | US92343V1044 | MarketScreener
Technical analysis trends VERIZON COMMUNICATIONS INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 62,00 $
Last Close Price 56,75 $
Spread / Highest target 23,3%
Spread / Average Target 9,25%
Spread / Lowest Target -4,85%
EPS Revisions
Managers
NameTitle
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Clarence Otis Lead Independent Director
Melanie Liddle Healey Independent Director
Sector and Competitors