AT&T and T-Mobile both claimed they were intent on preserving Cricket and MetroPCS’s services when they made their respective acquisitions. But it looks like T-Mobile was the only one serious about it.
Leap Wireless(s leap) shareholders on Thursday signed off on AT&T’s(s t) planned buyout of the carrier, its 5 million Cricket Communications subscribers and, most importantly, its spectrum. The vote wasn’t even close with 99 percent shares voted in favor of the $1.2 billon cash deal, though their approval was pretty much a given. The acquisition now faces its biggest challenges: regulatory reviews before the Federal Communications Commission (with newly installed chairman Tom Wheeler at the helm) and the U.S. Justice Department.
With the help of some maps from Mosaik, GigaOM breaks down what AT&T really gets if it acquires Leap. Our conclusion: AT&T is paying a ridiculous price but it probably feels it has no choice.
