AT&T to acquire Leap Wireless for $1.19 billion
AT&T plans to buy prepaid mobile service provider Leap Wireless for $1.19 billion.
Leap Wireless offers telecom services under the brand name – Cricket and has a subscriber base of 96 million people in about 35 states in the United States. At present Leap Wireless operates a 3G CDMA network, as well as a 4G LTE network. The service provider has 3,400 employees.
Following the deal, AT&T will have access to Leap Wireless’ 700 MHz A Block spectrum in Chicago. Leap Wireless had bought this spectrum for $204 million in August 2012. AT&T plans to expand its 4G network using the 700 MHz A Block spectrum.
As of April 15, 2013, Leap had $2.8 billion of net debt.
Leap operates a 3G CDMA network, as well as a 4G LTE network covering 21 million people in these areas, and has 3,400 employees.
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