Communications Services Up As Verizon Agrees To Buy Tracfone -- Communications Services Roundup

Communications services companies rose amid deal activity.

Verizon Communications shares rose after it agreed to buy budget carrier TracFone for up to $7 billion in cash and stock from Mexican carrier America Movil in an effort to boost its prepaid business.

TracFone estimated it has about 21 million prepaid subscribers in the U.S., under its eponymous brand and others. Shares of America Movil rallied.

U.K. bookmaker William Hill said its U.S. partner has signed a co-exclusive agreement with ESPN, opening up the company to a bigger market.

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