BUSINESS BRIEFING / TELECOM
Times Wire Reports
Shares of Leap Wireless International Inc. and MetroPCS Communications Inc. tumbled after Sprint Nextel Corp. said it would introduce an unlimited-calling plan to compete with the pay-as-you-go wireless carriers.
The Boost Mobile program will include unlimited calls and text messages for $50 a month starting Thursday, Sprint said.
Leap and MetroPCS also offer unlimited plans at $50 a month. Leap shares fell $2.47 to $25.23. MetroPCS dropped $2.10 to $13.87. Sprint Nextel rose 2 cents to $2.29.