Leap Wireless Shares to Rise as Service Expands, Magazine Says
By Samantha Zee
San Diego, March 30 (Bloomberg) -- Leap Wireless
International Inc., a wireless-phone service company spun off from
Qualcomm Inc., is expected to see its shares rise as its service
grows, Business Week reported in its ``Inside Wall Street'
column, citing Brian Zimmerman, a money manager at Forstmann-Leff
Associates. The company, using technology from Qualcomm, Lucent
Technologies Inc. and Ericsson AB, provides a no-frills, talk-all-
you-want wireless phone service for $29.95 a month and serves
customers in Nashville and Chattanooga, Tennessee, and cities in
Mexico and Chile. Zimmerman said Leap, which is planning to expand
in the U.S., has ``huge potential' for world growth, because it
targets middle to low-tier markets, the magazine said.
Leap Wireless earlier this month said its second-quarter loss
widened to $3.79 a share from a $1.30-a-share loss a year earlier
on costs to expand the network and accommodate customer growth. |
