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Sep. 30, 2008

Late yesterday, Leap Wireless and MetroPCS said they have entered a national roaming agreement, and formed an additional agreement to exchange wireless spectrum.

The two companies also settled all outstanding litigation between the two and are in better terms.

The new roaming deal will be good until 2018, and will cover existing and future markets, and could be extended in the future, both companies said.

All litigation between both parties is now dropped. However, neither company has disclosed any details or financial terms of the agreement.

In the spectrum swap, Leap acquired 10 MHz in Fresno, San Diego, Seattle and other northwest markets.

Meanwhile, MetroPCS has acquired 10 MHz in Dallas-Ft. Worth, Lakeland-Winter Haven, Fla., Shreveport-Bossier City, La., and various other Texas markets.

As is always the case, FCC approval is needed for the swap, but this is just a standard formality.

In 2007, Leap rejected MetroPCS’s $4.7 billion acquisition offer.

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Source: Leap Wireless.