Leap rejects MetroPCS takeover offer (USA)US mobile operator Leap Wireless has rejected a takeover offer from rival MetroPCS. Leap said the proposal was “not in the best interests of Leap and its shareholders” and undervalued the company and its growth prospects. It further suggested that MetroPCS was trying to pressure it into an alliance ahead of the upcoming spectrum auction in the US, despite Leap repeatedly approaching MetroPCS in the past over possible cooperation or a merger. MetroPCS made an unsolicited approach in early September, for an all-stock merger with Leap valuing the company at about USD 5.5 billion plus debt. MetroPCS said it would continue to consider the offer, as contacts with some of Leap’s shareholders had suggested they were interested in the offer.
Wireless Mobile Telecom Wireless News
