Australian Telcos extend decline on SpaceX spectrum deal concerns

Telstra

13/10/2026 02:13

** Australian Communication Services sub-index .AXTJ falls as much as 0.7%, its lowest level since July 9, 2024
** Telcos sub-index extends losses after slipping as much as 2.4% on Monday, on concerns over SpaceX SPCX.O acquiring a US portfolio of low-band spectrum licences
** Australian Telco firm Telstra TLS.AX sheds as much as 1.1%, lowest level since Aug 28, while peers Superloop SLC.AX and Aussie Broadband ABB.AX tumble 1.6% and 0.5% respectively
** YTD, AXTJ down more than 14%, including day's moves 

 (Reporting by Aamir Sheik Khalid in Bengaluru)
 ((Aamir.SheikKhalid@thomsonreuters.com))