Leap Shares Rise on Report of Deal Talks With MetroPCS, T-Mobile

Monday, 19 Nov 2012 08:18 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Shares of Leap Wireless International Inc., the San Diego-based pay-as-you-go wireless carrier, rose 5.5 percent Monday on a report that it held talks with MetroPCS Communications Inc. about a three-way deal with T-Mobile USA.

MetroPCS, which announced plans last month to merge with Deutsche Telekom AG’s T-Mobile division, disclosed in a Nov. 16 filing that it previously discussed a deal involving a third party as well. A person familiar with the situation identified that company as Leap, Bloomberg reported Monday.

The shares rose to $6.30 at the close in New York. The increase pared Leap’s year-to-date decline to 32 percent.

Leap, one of MetroPCS’s biggest competitors in the prepaid market, has been struggling to hang on to customers as its rivals upgrade to speedier networks that use a technology called long-term evolution, or LTE. The company lost about 269,000 users last quarter.

© Copyright 2014 Bloomberg News. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved