WASHINGTON—The California Public Utilities Commission said Thursday it has approved Verizon Communications’ more than $6 billion proposed acquisition of TracFone Wireless after the companies agreed to some additional consumer protection conditions. Under the agreement with the California regulator, TracFone or Verizon must participate in a U.S. program providing subsidized wireless service for low-income consumers for 20 years. Verizon said in September 2020 it would buy pre-paid mobile phones provider TracFone, a unit of Mexican telecom company America Movil, in a cash and stock deal worth up to $6.9 billion. The deal was previously approved by the Justice Department and is awaiting approval by the Federal Communications Commission (FCC), which has been reviewing the deal. Verizon declined to comment Thursday. TracFone is one of the largest providers of telecommunications services under the government subsidy program known as Lifeline with around 1.7 million low-income subscribers in 43 states and the District of …
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