Monday, November 24, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
ASML Says First EUV Production Systems Will Be Ready in 2016
Nvidia Offers Two SHIELD Bundles For Black Friday
Internet Access Considered Human Right: survey
Industry Concerned BT Holds A Network Monopoly Position
Samsung to Phase Out Mobile App Service
Apple To Donate Part of App Sales Profit To Support Fight Against AIDS
Regin Trojan Enables Stealthy Surveillance: Symantec
ASTC Says 100 TB HDDs Coming in 2025
Active Discussions
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
How to generate lots of different CDs quickly
 Home > News > Mobiles > AT&T to...
Last 7 Days News : SU MO TU WE TH FR SA All News

Saturday, July 13, 2013
AT&T to Buy Leap Wireless for $1.19 Billion


AT&T and prepaid wireless provider Leap Wireless International Inc. have entered into an agreement for AT&T to acquire Leap for $15 per share in cash.

Under the agreement, AT&T will acquire all of Leap's stock and wireless properties, including licenses, network assets, retail stores and approximately 5 million subscribers. As of April 15, 2013, Leap had $2.8 billion of net debt. Leap shareholders will also receive a contingent right entitling them to the net proceeds received on the sale of Leap's 700 Mhz "A Block" spectrum in Chicago, which Leap purchased for $204 million in August 2012.

Leap's network covers approximately 96 million people in 35 U.S. states. Leap currently operates -- under the Cricket brand -- a 3G CDMA network, as well as a 4G LTE network covering 21 million people in these areas, and has 3,400 employees.

AT&T will retain the Cricket brand name, provide Cricket customers with access to AT&T's 4G LTE mobile network, utilize Cricket's distribution channels, and expand Cricket's presence to additional U.S. cities.

"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," according to AT&T.

The combined company will have the financial resources, scale and spectrum to better compete with other major national providers for those interested in low-cost prepaid service.

The acquisition includes spectrum in the PCS and AWS bands covering 137 million people and is largely complementary to AT&T's existing spectrum licenses. Immediately after approval of the transaction, AT&T plans to put Leap's unutilized spectrum - which covers 41 million people - to use in furthering its 4G LTE deployment.

Two years ago, AT&T struck a deal to buy T-Mobile USA for $39 billion, but U.S. regulators blocked the attempt by the No. 2 and No. 4 U.S. wireless carriers to merge.

The latest transaction is subject to review by the Federal Communications Commission and the Department of Justice and to other customary closing conditions. AT&T expects the transaction to close in six to nine months.


Previous
Next
LG Starts Optimus G2 Campaign        All News        Microsoft Sues U.S. Customs For Not Enforcing Google Phone Ban
LG Starts Optimus G2 Campaign     Mobiles News      Microsoft Sues U.S. Customs For Not Enforcing Google Phone Ban

Get RSS feed Easy Print E-Mail this Message

Related News
AT&T and LG Collaborate On Connected Cars
AT&T Stopped Tracking Cellphones, Delays Investments To Fider
AT&T, Sprint Start Offering the Nexus 6
AT&T to Acquire Mexico Wireless Provider Iusacell
AT&T Has Misled Consumers with Unlimited Data Promises: FTC
Intel To Work With AT&T To Research Software Defined Networking
AT&T to Pay $80 Million to FTC for Consumer Refunds in Mobile Cramming Case
AT&T Launches High-speed U-verse Service for Businesses
Samsung Galaxy S 5 Active Available at AT&T Stores and Online
AT&T to Acquire DIRECTV For $48.5 Billion
AT&T To Announce DirectTV Buyout Soon
AT&T Cosidering A DirecTV Acquisition, WSJ Says

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .