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US: AT&T takes the Leap with $1.2B buyout

By  |  July 15, 2013

Less than two years since mobile giant AT&T abandoned efforts to acquire rival T-Mobile following regulatory criticism, the wireless carrier announced Friday plans to acquire smaller competitor Leap Wireless in a $1.2 billion deal. While reports say the buyout continues a trend of telco consolidation, groups are reportedly already urging regulators to block the deal; consumer group Public Knowledge said in a statement that AT&T already has “more wireless capacity than it needs” to effectively meet consumer need. If approved, the deal would strengthen AT&T’s position in the pre-paid wireless market.

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