US telecom firms down as SpaceX strikes spectrum deal to enable Starlink Mobile services
BUZZ-US telecom firms down as SpaceX strikes spectrum deal to enable Starlink Mobile services ** Shares of US telecom firms fall in extended trading after SpaceX SPCX.O announces an agreement to acquire a nationwide low-band spectrum license portfolio that will enable Starlink Mobile to become a major telecom operator in the US
** AT&T T.N shares down 6.6% at $23.40, Verizon Communications VZ.N down 5.1% at $43.97 and T-Mobile US falls 5.4% to $162.00, in extended trading
** SPCX shares up 0.5% at $161.38 after the bell
** Elon Musk's firm says it will secure up to 14 megahertz of paired spectrum in the 800 MHz band, addressing a critical technical gap for Starlink Mobile
** Up to last close, VZ up ~14%, TMUS down ~16% and T marginally up, YTD
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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