US telco Leap Wireless hires advisors for potential sale

www.WirelessFederation.com/news: Goldman Sachs and Morgan Stanley have been hired by US cellco Leap Wireless to advise the operator on a sale as it looks for potential suitors. A number of potential buyers like MetroPCS, Verizon, and AT&T have been approached by Leap in the recent days.

MetroPCS made a USD5.5 billion all-stock takeover offer for Leap in early September 2007, offering 2.75 of its own shares for every Leap share. However, Leap rejected the offer in mid-September, citing that it undervalued the company.