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What: Shares of indie wireless service provider Leap Wireless International
So what: Leap is one of many small operators that AT&T
Now what: This is a “Hail Mary” option for AT&T, and a consummated merger would rank right up there with Franco Harris' immaculate reception. The antitrust and anticompetitive hurdles in the way are just too great for a simple flea-flicker of an asset sale to save the day. Nearly all of AT&T's prospective customers outgained the general market on this news, and I'm pretty sure they'll have to give it all back -- this play probably won't happen after all.
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