M&A expected in saturated US wireless sector-Barron's

* Sprint could be acquired by Telefonica

* AT&T could bid for Leap or MetroPCS

NEW YORK, July 5 (Reuters) - The U.S. wireless industry could enter into a round of consolidation, with Verizon Wireless and AT&T (T.N) seen as survivors, as companies have little room to grow in a saturated market, Barron's said.

With 270 million cellphone subscribers in the United States, growth is limited, Barron's said. In addition, telephone-industry voice revenue will decline for the second year in 2009 after peaking in 2007, the weekly business publication said in its July 6th edition.

Last week, the shares of Leap Wireless International Inc (LEAP.O), MetroPCS Communications Inc (PCS.N) and Sprint Nextel(S.N) fell on competition concerns as Tracfone Wireless -- a unit of Mexico's America Movil (AMXL.MX) -- advertised a new rival service plan.

Barron's said that Verizon (VZ.N) -- co-owner of Verizon Wireless, the market leader -- had enough cash flow and access to debt to survive.

But Sprint (S.N) could be acquired by Spain's Telefonica (TEF.MC), after the third-biggest U.S. mobile service struggled with huge losses last year, Barron's said.

In addition, Leap and MetroPCS could become targets of AT&T, the second-largest wireless service, the weekly publication said. (Reporting by Juan Lagorio; Editing by Jan Paschal)