SAN DIEGO-Leap Wireless International Inc. said it will begin soliciting bids for the sale of what it termed “excess spectrum” in the Columbus, Ga., market in an attempt to raise capital.
The auction, which was approved by the U.S. Bankruptcy Court for the Southern District of California, will include 15 megahertz of a 30-megahertz C-Block license Leap currently controls in Columbus. The carrier noted it would retain the remaining 15-megahertz, which it said would be adequate to continue to offer service, and that it has set a March 4 deadline for receiving competing bids.
Leap made a similar deal in 2001 when it sold 15 megahertz of spectrum in Salt Lake City and Provo, Utah to Cingular Wireless L.L.C. for $140 million.
