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SpaceX accelerates telecom competition with $8 billion spectrum acquisition

The Motley Fool +1 ·

  1. 1SpaceX has agreed to acquire Grain Management's nationwide 800 MHz spectrum portfolio.
  2. 2Shares of T-Mobile US, Verizon, and AT&T fell by more than 10% the following day.
  3. 3SpaceX will begin next-generation mobile satellite operations next year and launch services by the end of next year.

So what's the key point?

SpaceX purchased a large amount of spectrum for communications. Following this news, stock prices for T-Mobile US, Verizon, and AT&T fell by more than 10 percent.

Source The Motley Fool +1 · View original ↗

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