SAN DIEGO-Leap Wireless International Inc. announced it has entered into an agreement to purchase personal communications services licenses in Denver and Pittsburgh for an undisclosed amount.
The agreement, if completed, will give Leap the right to add nearly 5 million pops for its domestic subsidiary, Cricket Communications Inc. Leap did not identify the sellers.
Radiofone PCS L.L.C. owns both F-block licenses in Denver and Pittsburgh. SBC Communications Inc. purchased Radiofone Inc. in November and is too large of a company to qualify as an owner of F-block licenses under Federal Communications Commission rules.
In related news, Leap said its operating companies’ subscribers grew to 104,200 at the end of Leap’s first quarter, ended Nov. 30.
During the quarter, Leap’s Chilean operating company unveiled “Smartcom PCS” as its new name and branding strategy. Pegaso, Leap’s Mexican joint venture, launched service in Monterrey and Mexico City, and penetration of Cricket’s new flat-rate wireless service increased to 5 percent in Chattanooga, Tenn., where the service was initially launched.
In total, Leap said its operating companies grew by 44,300, or approximately 74 percent.
The carrier also announced that it intends to make an underwritten public offering of 3 million shares of common stock. Leap intends to conduct the offering during the first part of 2000.
