Verizon announced today that it is purchasing Tracfone from America Movil — the Mexico-headquartered company that apparently owns Tracfone, which still exists. The acquisition will cost around $6.25 billion in equal parts cash and stock, plus 630 million in cash if certain goals are met. After the deal concludes, Tracfone customers will get access to Verizon's network, and Lifeline-linked services will continue to work.

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