PDF). América Móvil disclosed that Page Plus had 1.4 million customers at the time of acquisition.
The completion of the sale was all but assured when the FCC gave its approval to the deal a week ago. The sale was first announced in May, 2013 but the required government approval was delayed by concerns raised the Department of Justice about TracFone's ability to support lawfully authorized electronic surveillance of its customers by government agencies.
It remains to be seen what América Móvil's plans for PagePlus are. On the positive side I expect to see new Page Plus branded phones and wider retail distribution of Page Plus airtime cards and phones, including at national retailers like Walmart, BestBuy, Radio Shack and Target stores where TracFone already has a presence. On the other hand, Page Plus has been noted good customer and dealer support and a liberal, robust Bring Your Own Phone program, two areas that TracFone has struggled with. Hopefully, TracFone will leave PagePlus' activation process and support alone while concentrating on improving marketing and distribution.
“América Móvil acquires Start Wireless Group” Mexico City, Mexico, January 16, 2014 -- América Móvil, S.A.B. de C.V. (“AMX”) (BMV: AMX; NYSE: AMX; NASDAQ: AMOV; LATIBEX: XAMXL), announced today that its subsidiary Tracfone Wireless, Inc., has completed the acquisition of substantially all of the assets of Start Wireless Group, Inc. (commonly known as “Page Plus”), a mobile virtual network operator (MVNO) in the United States, that provides services to approximately 1.4 million customers and offers, among others, prepaid plans for voice, messaging and data.
AMX is the leading provider of wireless services in Latin America. As of September 30,
2013, it had 265.1 million wireless subscribers and 68.3 million fixed revenue generating
units in the Americas.