Leap Wireless Unit to Buy Hargray Communications Unit for $30 Million

Leap Wireless International's Cricket Communications Inc. unit agreed to acquire Hargray Communications Group's wireless telecommunications business for $30 million to bring Cricket services to the Savannah, Ga., and Hilton Head, S.C., areas.

The San Diego wireless services company said it will acquire Hargray Wireless LLC, including its 15 MHz wireless spectrum license, its wireless network and the majority of its wireless customer base.

Cricket said Hargray's wireline and wireless bundled customers will remain with Hargray and will be able to receive Cricket service under a wholesale arrangement at the closing of the transaction, and all wireless subscribers will transition onto Cricket's wireless plans or a Hargray bundle that includes Cricket service.

Cricket expects the deal to close in the first half of 2008.

-Shara Tibken; 201-938-5400, AskNewswires@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 12th December 2007