In March of this year we placed an op-ed in Capitol Weekly urging the California Public Utilities Commission (CPUC) to move rapidly to approve the Tracfone acquisition by Verizon. We took this position because we believe strongly that this transaction will bring better choices, technologies, and options to lower income Californians and minority communities in the state as soon as it closes. Two months later, the deal has yet to be approved and we are once again calling on the CPUC to move forward. Any further delay in this transaction will only harm the lower income community and their communication needs during a pandemic, at the very time this essential communication technology is needed.
This transaction will serve to improve the competitive marketplace and allow customers free of long -term contracts to choose the best service that meets their needs and price concerns. The CPUC should move rapidly to approve the Tracfone acquisition by Verizon for the benefit of value-conscious customers who depend on a competitive pre-paid phone service. The Tracfone acquisition will improve competition for the consumer in California and provide access to the latest technologies such as 5G to lower income consumers, many of whom prefer to use prepaid services. Value-conscious consumers depend on a competitive pre-paid market to provide the best services at the most economical cost.
The CPUC has shown leadership in the past by fast-tracking this type of transaction to better serve the consumers of California, it should move quickly now with the Tracfone acquisition by Verizon as well. Swift action is needed to ensure our minority and rural communities get the benefits of this transaction as soon as possible. This is why the CalAsian Chamber recognizes the urgency of this issue and is calling on the CPUC to act now.