AT&T and Leap Wireless held merger discussions in recent months

The nation’s second largest wireless carrier has reportedly held talks with Leap Wireless in recent months over a possible acquisition, according to Reuters. The move is the latest attempt by AT&T in its efforts to find additional wireless spectrum after its failed acquisition of T-Mobile. The talks were serious enough that Leap reportedly hired bankers to advise it on a potential deal, although it is unclear if discussions are still ongoing. Leap Wireless, which operates the nation’s seventh largest wireless network, has a market value of roughly $400 million and $3.2 billion of long-term debt. Earlier in the week it was reported that T-Mobile and MetroPCS were also holding discussions regarding a possible merger.