MetroPCS Communications Inc., a wireless communication services provider, said Thursday it is withdrawing its $4.7 billion bid for Leap Wireless International Inc.
MetroPCS publicly offered Leap shareholders in September 2.75 shares of MetroPCS for every share of Leap they own.
In withdrawing the offer, MetroPCS said it "has not been able to engage Leap in meaningful negotiations" about a deal.
Leap Wireless said MetroPCS' withdrawal of its bid Thursday "became moot in any case on Sept. 16 when our board rejected it as inadequate." In a statement, Leap officials said they remain "open to substantive discussions concerning …
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