AT & T is planning to acquire the operator of the cricket pre-paid mobile service, Leap Wireless : A great news in the US mobile industry. AT & T recently announced to acquire 79 million shares of Leap Wireless @ $15 USD per share, and also to assume $2.8 billion USD of net debt. The deal is to be approved by the US department of Justice, and US Federal Communications Commission, along with other conditions. The deal is expected to be closed within 6-9 months.
Leap Wireless will add about 5 million subscribers to the 107 million base subscribers of AT & T, but the acquisition will result in more spectrum licenses to AT & T, which will partially fulfill the growing demand for the mobile capacity over the coming years. Leap Wireless has licenses covering 137 million US residents, & these are largely complimentary to AT & T's own spectrum. Leap Wireless has unutilized spectrum covering 41 million persons, which AT & T will immediately use.
Company sources from AT & T said it will retain the Cricket brand, and offer a better mobile internet experience to consumers seeking low cost pre-paid plans.
Company sources from AT & T said it will retain the Cricket brand, and offer a better mobile internet experience to consumers seeking low cost pre-paid plans.
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