Leap: 'We're Open to Merger'

Leap comments on MetroPCS announcement

November 1, 2007

1 Min Read

SAN DIEGO -- Leap Wireless International, Inc. (NASDAQ:LEAP) issued the following statement in response to a MetroPCS announcement that it has withdrawn its proposal to merge with Leap.

"MetroPCS has announced the withdrawal of its September 4 proposal, which became moot in any case on September 16 when our Board rejected it as inadequate. Leap has long stated that there could be merit in a strategic combination and disagrees with MetroPCS's characterization today of the recent discussions between the companies. Our position regarding MetroPCS has not changed and we remain open to substantive discussions concerning a strategic combination that is in the best interests of all of Leap's shareholders."

Leap Wireless International Inc. (Nasdaq: LEAP)

MetroPCS Inc. (NYSE: PCS)

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