AT&T’s business transaction puts pressure on smaller rivals
Posted on Tuesday, July 30th, 2013 at 7:18 pm
AT&T Inc. is putting pressure on its smaller rivals, Sprint Corp. and Dish Network Corp., to become bigger through mergers and acquisitions of other properties/companies with its latest plan to buy Leap Wireless International Inc. in a $1.2-billion bid.
Sprint will be receiving a $5-billion cash infusion from SoftBank Corp., which acquired a controlling stake in the company on July 10, in a bid to expand Sprint’s network.
Wireless industry analyst Chetan Sharma said Chicago-based U.S. Cellular, whose majority of stocks is owned by Telephone & Data Systems Inc. and is serving around 5 million customers, is also on the lookout for more deals.