AT&T to Acquire Leap Wireless

[whitey10tc]

[h=AT&T to Acquire Leap Wireless]1[/h]

DALLAS & SAN DIEGO--([Only registered and activated users can see links. ])--AT&T Inc. (NYSE:T) and prepaid wireless provider Leap Wireless International Inc. (NASDAQ:LEAP) have entered into an agreement for AT&T to acquire Leap for $15 per share in cash. Under the terms of the agreement, AT&T will acquire all of Leap’s stock and wireless properties, including licenses, network assets, retail stores and approximately 5 million subscribers. As of April 15, 2013, Leap had $2.8 billion of net debt. Leap shareholders will also receive a contingent right entitling them to the net proceeds received on the sale of Leap’s 700 Mhz “A Block” spectrum in Chicago, which Leap purchased for $204 million in August 2012.
Leap’s network covers approximately 96 million people in 35 U.S. states. Leap currently operates -- under the Cricket brand -- a 3G CDMA network, as well as a 4G LTE network covering 21 million people in these areas, and has 3,400 employees.
AT&T will retain the Cricket brand name, provide Cricket customers with access to AT&T’s award-winning 4G LTE mobile network, utilize Cricket’s distribution channels, and expand Cricket’s presence to additional U.S. cities. The result will be increased competition, better device choices, improved customer care and a significantly enhanced mobile Internet experience for consumers seeking low-cost prepaid wireless plans.
The combined company will have the financial resources, scale and spectrum to better compete with other major national providers for customers interested in low-cost prepaid service. Cricket’s employees, operations and distribution will jump start AT&T’s expansion into the highly competitive prepaid segment.
The acquisition includes spectrum in the PCS and AWS bands covering 137 million people and is largely complementary to AT&T’s existing spectrum licenses. Immediately after approval of the transaction, AT&T plans to put Leap’s unutilized spectrum – which covers 41 million people – to use in furthering its 4G LTE deployment and providing additional capacity and enhanced network performance for customers’ growing mobile Internet usage.
Owners of approximately 29.8% of Leap’s outstanding shares have entered into an agreement to vote in favor of the transaction.
The transaction is subject to review by the Federal Communications Commission and the Department of Justice and to other customary closing conditions. AT&T expects the transaction to close in six to nine months.
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It just might finally happen, I've seen rumors every year around this time, but with the Softbank buyout of Sprint, and T-Mobile buy out of Metro, this just might make it. Who's left for Verizon to buy up?
Will AT&T maintain cricKets CDMA network, or slowly force a move to GSM?

My thoughts, AT&T will slowly force customers to move to GSM, and VZW will begin buying all the small CDMA carriers it can.

[_JiGaBu_]

verizon will buy FCC..lol

[rich hathaway]

this will make big red number 2 now if it goes thru,it has yet to be approved.here is the letter cricket sent out to its dealers

Jerry Elliott <jelliott@cricketcommunications.com>
6:09 PM (1 hour ago)

to
Dear Valued Cricket Dealer Partner;

Because of our important relationship, I wanted to write you about the news we announced today that AT&T will be acquiring Cricket. We are very excited about the acquisition and believe it will significantly strengthen our ability to win in the marketplace and enable you to further grow your business. We believe this transaction provides tremendous opportunities to offer our customers an enhanced customer experience, including greater access to high-quality wireless services and a wider selection of affordable devices.

Importantly, AT&T will retain the Cricket brand name, utilize all of our distribution channels and expand Cricket’s presence to additional U.S. cities. As Randall Stephenson, Chairman and CEO of AT&T said to all Cricket employees today, “This announcement is all about long-term growth and expansion of the Cricket business.” AT&T will also provide our customers with access to its 4G LTE network. The result will be increased competition, better device choices, improved customer care and a significantly enhanced mobile Internet experience for consumers seeking affordable, value-rich no-contract wireless products and services.

The combined company will have the financial resources, scale and spectrum to more aggressively compete for customers interested in affordable, prepaid service. As AT&T said today in the press release, “Cricket’s employees, operations and distribution will jump start AT&T’s expansion in the highly competitive prepaid segment.”

Until the transaction closes, Cricket will continue to operate as an independent company. Today’s announcement will have no immediate impact on our day-to-day operations, and it remains business as usual at Cricket. In particular, we are moving ahead as planned with the launch of our new disruptive, game-changing phone payment plan on July 21. Next week you will start to see publicity and public relations activity supporting that launch, with the full advertising and media campaign starting on July 29.

Your Cricket team and I will maintain close collaboration with you in the months to come to ensure that you are kept current on the transaction. Thank you for the great work you are doing to improve the Customer Experience and customer survival, and for your focus on the Big 4 initiatives to grow our business together. We look forward to further communication with you as we move forward.

Sincerely,



JERRY ELLIOTT | PRESIDENT & CHIEF OPERATING OFFICER

[rich hathaway]

[Only registered and activated users can see links. ]

cricket t&t lol

[thenoblemobile]

Hate to be a bearer of bad news or a fear-monger, but I was informed today by Airtech Mobile (a company that manages Cricket's relationship with standard dealers in Oregon) that a large percentage of standard dealer's will be "terminated" or shut down very soon. He explained that he did not know why, but that it had something to do with the sale of Cricket to ATT. Either way, he informed me that my store will no longer be able to cricket service sometime in the near future. He told me at least 12 stores in Oregon would be shut down at the same time as mine. He also said 98% or something like that of standard dealers were being shut down. That sounds pretty high, but if its true then that means only premier (whatever the H@#@!# that means) stores will keep selling Cricket.
Anyone else hear anything else about this? Either way, if ATT switches cricket to gsm, then will any other company besides page plus accept flashed phones? thoughts, rumors, etc.?
PS: this quote from above seems a bit ironic, but Im not bitter: " Today’s announcement will have no immediate impact on our day-to-day operations, and it remains business as usual at Cricket."

[rich hathaway]

thats been going on for almost a year now,in my market cricket has term'd about 80 stores of our 115 we had,premier stores are cricket only,no open contract to sell other providers services and products.soon there will be no more cricket despite what lies they tell u,they do not care that you may have 100k or better invested in your stores and cricket period.next g wireless is really growing now,at least here it is,pp is not.
but there is also rumor of sprint opening up to mvno's for byod services,that would be cool,they see ALOT of custy's with there own devices looking for a new carrier in the near future so it only seems logical.