Leap Wireless International Inc on Monday swapped wireless airwaves with Verizon Wireless in a series of deals aimed at beefing up its presence in the Chicago area.The low-cost wireless service provider said it bought 12 MHz of 700 MHz A block spectrum in Chicago from Verizon Wireless for $204 million.In another transaction, Leap Wireless sold to Verizon excess personal communications service and Advance Wireless Services spectrum in various markets across the U.S. for $188 million.The company said the sale of spectrum in these deals will not impact Leap's operations in its existing operating markets.
Leap Wireless International, Inc. (Leap) is a wireless communications carrier that offers digital wireless services in the United States under the Cricket brand. Shares of LEAP traded higher by 5.64% or $0.5/share to $9.36. In the past year, the shares have traded as low as $5.50 and as high as $17.66. On average, 2044400 shares of LEAP exchange hands on a given day and today's volume is recorded at 2094718.
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