Deals
Leap, MetroPCS May Be Buyout Targets for AT&T, JPMorgan Says
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Leap Wireless International Inc. and MetroPCS Communications Inc. may be takeover targets for bigger rivals AT&T Inc. or T-Mobile USA after the larger companies’ $39 billion merger plan collapsed, JPMorgan Chase & Co. said.
The pay-as-you-go carriers could be suitable “near-term” sources of spectrum for a buyer, Phil Cusick, a JPMorgan analyst in New York, said in a note to clients today. AT&T cited a need for more spectrum as a reason for its attempt to buy T-Mobile.