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07-12-2013, 04:53 PM #1
AT&T Acquiring Leap Wireless for $1.19 Billion
AT&T has just announced plans to acquire prepaid-wireless company Leap Wireless International. AT&T says it will absorb the company behind the Cricket brand for approximately $1.19 billion in cash.
Confirmed by the Wall Street Journal, the deal is "intended to kick-start the carrier's expansion into the low-cost market and values Leap shares at $15 a piece, a roughly 88% premium to the company's closing price Friday."
Although AT&T hasn't said much about the acquisition yet, we're told the deal will include Leap's various licenses, network assets, retail stores and - this could be the biggest part - approximately five million subscribers.
For now, AT&T plans to retain the Cricket brand name and, best of all for current Cricket subscribers, provide its customers with access to AT&T's 4G network.
Naturally, the deal is subject to review by U.S. antitrust authorities but if all goes as planned, the deal will close in six to nine months.
07-12-2013, 04:57 PM #2
There goes some of the competition....expect to see higher priced plans coming from AT&T's prepaid division and Cricket's prices to go up as well.
07-12-2013, 05:13 PM #3
You really thought Cricket was giving competition to AT&T?
07-12-2013, 08:58 PM #4
07-12-2013, 09:29 PM #5
07-12-2013, 11:47 PM #6
Top 20 companies that care about consumer privacy:
US Postal Service
Procter & Gamble
Johnson & Johnson
07-13-2013, 05:25 AM #7
07-13-2013, 07:52 AM #8
07-13-2013, 08:18 AM #9
07-13-2013, 10:42 AM #10
07-13-2013, 12:38 PM #11
07-13-2013, 12:58 PM #12
I know. I was just surprised that Mozilla is always talking about user privacy and implementing it and is only 20th in rank!