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SpaceX deal to acquire spectrum license hammers shares of AT&T, Verizon and T-Mobile
SpaceX announced an agreement on Thursday to purchase a nationwide spectrum portfolio as it pushes its Starlink service deeper into the U.S. telecommunications market. Shares of AT&T, Verizon and T-Mobile tumbled in extended trading.
The deal involves the acquisition of a spectrum portfolio from Grain Management, which specializes in digital infrastructure, and is subject to approval by the Federal Communications Commission. SpaceX said in a statement that it's a "license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band."
"This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX said.
Is T Mobile US (TMUS) Ready For A New Wireless Threat?
T-Mobile US (NasdaqGS:TMUS) faces a new rival as SpaceX moves to build a stand-alone direct-to-cell wireless network using newly acquired nationwide low-band spectrum.
SpaceX plans to connect ordinary smartphones directly to satellites, targeting gaps in rural coverage, enterprise connectivity, and emergency communications where T-Mobile currently competes.
The satellite operator's shift from partner to potential competitor raises questions for T-Mobile's rural and satellite-linked growth plans as SpaceX activates its low-band spectrum network. We have also flagged 1 warning sign for T-Mobile US.
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