Leap Seeking Buyer

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posted Feb 1, 2010, 4:40 PM   by Eric M. Zeman

According to a new report from the Wall Street Journal, Leap Wireless has hired Goldman Sachs to help the company merge with a rival, sell itself to another company and help it "reassesses its alternatives and checks its options out there right now." People familiar with Leap's plans say that the company has spoken to AT&T and Verizon Wireless. Leap has also formed a committee (being advised by Morgan Stanley) to assess strategic options. 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.

more info at Wall Street Journal »

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