Leap, Savary Island and T-Mobile USA Close Spectrum Exchanges

Published on: 2nd Oct 2012

­USA based Leap Wireless has completed the previously announced transactions to exchange spectrum in various markets with T-Mobile USA, Cook Inlet (a venture in which T-Mobile has a non-controlling majority interest), and Leap's non-controlled, majority-owned venture Savary Island Wireless.

Under the agreements, Leap acquired 10 MHz of additional AWS spectrum in Phoenix, AZ and Houston, Galveston and Bryan-College Station, TX to supplement the spectrum Leap currently operates in those markets, among others.

Leap and Savary Island also assigned T-Mobile and Cook Inlet spectrum in various markets in Alabama, Illinois, Missouri, Minnesota and Wisconsin. The transactions also included intra-market exchanges between Leap and T-Mobile in Philadelphia, Wilmington, Atlantic City and various markets in New Mexico and Texas, and between Leap and Cook Inlet in certain markets in Texas.

"The closing of these agreements will allow us to enhance the delivery of our wireless services in key markets through the realignment of spectrum," said Doug Hutcheson, Leap's president and chief executive officer. "In addition, we now have added depth to our spectrum in select markets providing us with longer term flexibility to offer a larger LTE channel."

Financial details were not disclosed.

Leap also announced that its wholly owned subsidiary, Cricket Communications completed the acquisition of the remaining 15 percent controlling membership interest that it did not own in Savary Island for approximately $5.3 million in cash. As a result of the acquisition, Savary Island and its subsidiaries became wholly owned subsidiaries of Cricket.

 

Tags: [savary island]  [t-mobile usa]  [leap wireless]  [USA]