Agence France-PresseJuly 12, 2013 21:32
AT&T announced plans Friday to buy mobile carrier Leap Wireless in a deal worth at least $4 billion, giving the telecom giant needed spectrum along with the Cricket prepaid phone franchise.
AT&T said it was paying $15 a share, around $1.2 billion, and would assume the smaller carrier's $2.8 billion in debt. It will acquire the five million customers now using Leap.
Leap shareholders would also receive proceeds from the sale of a portion of spectrum which would be sold after the deal.