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Leap Wireless Exploring Possible Sale

Jan 15, 2010, 2:10 PM by Eric M. Zeman
updated Jan 15, 2010, 2:51 PM

Leap Wireless is close to hiring a bank to help it explore strategic options moving forward, according to sources familiar with the matter. Reuters reports that Leap may hire Goldman Sachs, with which it already has a history. Leap is weighing consolidation and or/and outright sale to a competitor. MetroPCS has previously expressed interest in acquiring and/or merging with Leap Wireless. It made a bid of $5.5 billion for Leap back in 2007, and expressed interest as recently as September 2009. Leap has not officially provided comment on the matter. Leap runs a pre-paid wireless service branded as Cricket.

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Comments

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This forum is closed.

Azeron

Jan 15, 2010, 3:14 PM

Oh no!

This is horrible news. Hopefully, Metro will acquire them.

michael_herc

Well I think it's great news, but only if metroPCS acquires them.

...

Dubspoon

I wouldn't mind seeing Sprint take over Leap and Metro and put them all under Boost/Virgin

...

SprintFTW

Jan 16, 2010, 10:09 PM

I hope they stay on their own. If another company takes over there is a good likelihood it won't be as open of a network.

For example... Metro phones must be flashed through Houdini from what I understand, which is not free... where as if you know how to flash a phone to Cricket you can do it for free.

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