Two of Leap Wireless' bigger shareholders increased their stakes in the wireless carrier this week. Harbinger Capital Partners announced that it had upped its stake in Leap to 13.5 percent of the company. Not to be outdone, MHR Fund Management added 500,000 shares in Leap to its stake--making it the largest stakeholder with 18 percent of the company. Analysts point out that Leap's decision to turn down MetroPCS' recent acquisition offer coupled with a slightly grimmer financial outlook, has weakened Leap's share price to the point where activist investors could make a play for the company. It appears some shareholders could be doing just that.
For more on the funds' stakes in Leap:
- read this article from the WSJ