Press release from PR Newswire
Tracfone Wireless, Inc. Assumes Control of Simple Mobile
Tuesday, June 19, 2012
Tracfone Wireless, Inc. Assumes Control of Simple Mobile10:30 EDT Tuesday, June 19, 2012Step Follows May 10th Announcement by America Movil About Simple Mobile AcquisitionMIAMI, June 19, 2012 /PRNewswire/ -- TracFone Wireless, Inc., America's Number 1 no-contract cell phone provider, announced that, effective Monday, it completed its purchase of Simple Mobile, one of T-Mobile's largest mobile virtual network operators (MVNOs) in the United States.TracFone will continue to provide service to over one million customers of Simple Mobile, offering such services as a $40 Unlimited Everything SIM-only program. The step further consolidates TracFone's leadership position in the SIM-only space. TracFone currently offers a "Bring Your Own Phone" SIM card option for its Straight Talk® and NET10® services. The Simple Mobile acquisition also provides TracFone with several firsts, including a 4G offer, Mobile Broadband, and also Blackberry service. On May 10, 2012, America Movil S.A.B. de C.V. announced that it had signed an agreement to purchase 100 percent of the operations of Simple Mobile.TracFone Wireless, Inc. is a subsidiary of America Movil S.A.B. de C.V. ("AMX") (BMV: AMX; NYSE: AMX; Nasdaq: AMOV; LATIBEX: XAMXL), AMX is the leading provider of wireless services in Latin America. As of March 31, 2012, it had 246 million wireless subscribers -- more wireless customers than AT&T and Verizon combined -- and 59.7 million fixed revenue generating units in the Americas.SOURCE Tracfone Wireless, Inc. and America Movil S.A.B. de C.V.