AT&T unveiled late Friday a deal to buy...
AT&T unveiled late Friday a deal to buy Leap Wireless. Leap had long been rumored as a merger partner with MetroPCS, before that company was gobbled up by T-Mobile. AT&T said in a press release it will pay $15 per…
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share for Leap and would pick up 5 million customers and a network covering some 96 million people in 35 states, as well as Leap’s PCS and AWS spectrum. Leap shares closed Friday at $7.98, but quickly doubled in after-hours trading after the announcement was made. “AT&T will retain the Cricket brand name, provide Cricket customers with access to AT&T’s award-winning 4G LTE mobile network, utilize Cricket’s distribution channels, and expand Cricket’s presence to additional U.S. cities,” AT&T said. “The result will be increased competition, better device choices, improved customer care and a significantly enhanced mobile Internet experience for consumers seeking low-cost prepaid wireless plans."