Verizon buys the largest MVNO in the U.S. for over $6 billion

, the largest wireless provider in the states, for $3.125 billion in cash and $3.125 billion in shares of Verizon stock. In addition, another $650 million could be paid out to America Movil depending on whether Tracfone achieves certain performance goals. The latter has approximately 21 million subscribers and 90,000 retail locations in the U.S. Verizon calls it "the leading pre-paid and value mobile provider in the U.S." and states that the deal now expands Verizon's business into the value arena.

Verizon buys America's largest MVNO, Tracfone

Tracfone ...