Leap has slipped a little on the news, but is still at $16.53. AT&T agreed to buy Leap for $15/share in cash and the net proceeds from the sale of spectrum previously bought for $204M.
Citi (Neutral) isn't crazy about T-Mobile's numbers. The firm notes service revenue still fell 7.5% Y/Y to $5.1B (below Citi's $5.22B estimate) and estimates OIBDA (hurt by iPhone sales) fell 58% Y/Y to $739M (below Citi's $1.1B estimate) after adjusting for Value Plan accounting changes.
The firm remains concerned about T-Mobile revenue/OIBDA growth prospects in light of " the rapid maturation of the prepaid category & competitive pressures in its postpaid segment."