US telecom firms fall as SpaceX strikes spectrum deal to enable Starlink Mobile services
XLC•AT&T, Verizon and T-Mobile shares fell 6.6%, 5.1% and 5.4%, respectively, in extended trading after SpaceX announced a deal to acquire a nationwide low-band spectrum license portfolio for Starlink Mobile. SpaceX said it will secure up to 14 megahertz of paired spectrum in the 800 MHz band.
1. Telecom shares fall
AT&T, Verizon Communications and T-Mobile US shares fell in extended trading after SpaceX announced an agreement to acquire a nationwide low-band spectrum license portfolio that would enable Starlink Mobile to become a major U.S. telecom operator. AT&T was down 6.6% at $23.40, Verizon fell 5.1% to $43.97 and T-Mobile dropped 5.4% to $162.00.
2. Spectrum details
SpaceX said it will secure up to 14 megahertz of paired spectrum in the 800 MHz band, addressing what it described as a critical technical gap for Starlink Mobile. SpaceX shares rose 0.5% to $161.38 after the bell.
