MetroPCS Trying To Buy Leap Wireless

In a week or so, MetroPCS could become the nation’s 5th largest wireless provider. The company today offered to purchase Leap Wireless for $5 billion in stock. Seems like a decent deal, since both carriers are not known nationwide and gives them both an opportunity to acquire new customers. Maybe MetroPCS will also acquire some cellphone service that doesn’t suck in the process. Just saying.

The deal could also turn the whole industry upside-down, since both companies currently do flat-rate fees for unlimited cellphone service rather than a contract. Joining together would force other wireless carriers like Verizon and T-Mobile to offer more competitive contracts. We’ll see if Leap Wireless accepts the offer later in the week.

MetroPCS asks to swallow Leap Wireless [The Register]