<div id="subtitle">Leap shares retreat after downgrade from JPMorgan; analyst says sale would 'challenging'</div><div><p>Shares of Leap Wireless International Inc. took a hit Friday after a JPMorgan analyst downgraded the prepaid wireless service provider, saying a sale of the company would be "very challenging."</p><p>The Wall Street Journal reported earlier this week that the company has hired bankers to explore a sale. JPMorgan analyst Mike McCormack said he believes the company is actively seeking a buyer, with rival MetroPCS Communications Inc. the most likely suitor.</p><p>But the analyst downgraded Leap to "Underweight" from "Neutral," saying that amid "industrywide pricing pressure, and deteriorating fundamentals, we believe that Metro would be unwilling to pursue a bid for Leap, even at current levels."</p><p>Metro made a bid for Leap in 2007 but the companies did not work out a deal.</p><p>Leap has not commented on the reports and spokesman Greg Lund said Friday it had no plans to do so.</p><p>Leap shares fell $1.08, or 7.4 percent, to $13.51 in afternoon trading. In the past 52 weeks, the stock has traded between $11.98 and $42.47.</p><p>Shares of MetroPCS slid 14 cents to $5.67.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68519591&bid=informcom" /></div><div id="copyright"><div>

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