LOS ANGELES — AT&T Inc. said Friday that it has agreed to acquire Leap Wireless International Inc., the pre-paid cellphone carrier that operates under the Cricket brand, for about $1.19 billion in cash, or $15 a share. The purchase gives America's No. 2 cellphone carrier a leg-up in serving customers who prefer not to have lengthy contracts. Leap's Cricket service has 5 million subscribers who pay monthly without a contract. The deal also gives AT&T the right to use Leap's unused airwaves — also known as spectrum — to expand its network. Spectrum is the lifeblood of the wireless industry and the fight to grab more of it has spurred a recent wav...
Keep on reading: AT&T to buy Leap Wireless for about $1.2 billion
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