Seeking Alpha

FCC signs off on AT&T/Leap Wireless deal

  • The FCC's approval of AT&T's (T -0.1%) purchase of Leap (LEAP +0.7%) and its high-frequency spectrum assets was widely expected. While regulators have been nervous about AT&T/Verizon's huge share of low-frequency mobile spectrum, smaller rivals Sprint and T-Mobile have considerable high-frequency assets of their own.
  • In addition to the spectrum, the deal gives Ma Bell Leap's 4.6M prepaid subs and the Cricket brand. The latter will be replacing AT&T's own Aio prepaid brand.
  • Leap shareholders have already approved the deal. They'll be getting $15/share ($1.2B) in cash, as well as proceeds from the sale of low-frequency spectrum Leap acquired for $204M.
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  • Special Situations and Arbs
    , contributor
    Comments (699) | Send Message
     
    LEAP deal closed!
    13 Mar 2014, 11:37 PM Reply Like
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