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AT&T Completes Acquisition Of Leap Wireless

|Includes:AT&T Inc. (T), T

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AT&T, Inc. (NYSE:T) announced it has completed the acquisition of Leap Wireless International Inc. (LEAP) in a transaction valued at $1.3B. AT&T, which began the process of acquiring the company last July, received final approvals from the Federal Communications Commission, enabling AT&T to close its deal with Leap. AT&T will purchase all shares of Leap Wireless for $15.00 per share, acquiring all stock and wireless property that includes licenses, stores, and five million subscribers. Leap shareholders will have a right to the net proceeds from the sale of its 700 MHz "A Block" spectrum in Chicago, which Leap originally purchased for $204M in August 2012. AT&T views the acquisition as complementary to its network, with Leap's network covering 35 U.S. states and 96 million people, with its 4G LTE network supporting 21 million.

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