Leap Wireless & Pocket Communications start joint venture (USA)

www.WirelessFederation.com/news: Deal for a joint venture has been signed between Leap Wireless International Inc. and a Texas-based month-to-month mobile service provider, Pocket Communications Inc.

Under the deal, Leap will own 76% of the joint venture, which includes wireless spectrum and operating assets, while Pocket controls the rest besides buying some of Pocket’s assets for $38 million in cash.

Leap has expressed its wish to hold the controlling stake in the joint venture with an aim to strengthen its position in the South Texas area. The deal signifies an increased willingness for deals among low-end players that provide wireless service without a contract.