Leap (LEAP) Rips as AT&T Begins Licking Chops
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Leap Wireless (Nasdaq: LEAP) is ripping higher Thursday following reports it might be the takeover target of a huge U.S. wireless carrier.
According to the WSJ, AT&T (NYSE: T) might make a move on Leap Wireless, Dish Network (Nasdaq: DISH), or MetroPCS (NYSE: PCS) in an effort to broaden its spectrum offerings after its deal with T-Mobile fell through.
Earlier in the week, regulators rejected a new network plan by LightSquared, leaving carriers with limited options to expand coverage...at least, for now.
The WSJ notes that while AT&T may be in talks with several parties, no details of any deal have been hashed out.
Currently with a market cap of $686 million, the acquisition of Leap Wireless would give AT&T immediate access to about $2.1 billion worth of spectrum, according to a valuation by J.P . Morgan.
Dish said it doesn't want to sell spectrum outright and MetroPCS has opposed any deals so far, leaving Leap as the most likely target.
Leap is up 8.3 percent, PCS is up 3.3 percent, and Dish is 2 percent higher.
According to the WSJ, AT&T (NYSE: T) might make a move on Leap Wireless, Dish Network (Nasdaq: DISH), or MetroPCS (NYSE: PCS) in an effort to broaden its spectrum offerings after its deal with T-Mobile fell through.
Earlier in the week, regulators rejected a new network plan by LightSquared, leaving carriers with limited options to expand coverage...at least, for now.
The WSJ notes that while AT&T may be in talks with several parties, no details of any deal have been hashed out.
Currently with a market cap of $686 million, the acquisition of Leap Wireless would give AT&T immediate access to about $2.1 billion worth of spectrum, according to a valuation by J.P . Morgan.
Dish said it doesn't want to sell spectrum outright and MetroPCS has opposed any deals so far, leaving Leap as the most likely target.
Leap is up 8.3 percent, PCS is up 3.3 percent, and Dish is 2 percent higher.
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