✉news ScienceSpace first seen 22 h ago, last 22 h ago, peak #33
US telcos lose $60bn as SpaceX buys spectrum
Original: US telcos shed $60bn in value after SpaceX announces spectrum purchase
Major US telecom operators lost a combined $60 billion in market value after SpaceX announced a deal to buy spectrum, the radio frequencies needed for wireless service. The purchase puts Elon Musk's company in direct position to compete with carriers in satellite-to-phone connectivity, rattling investors who fear new competition for the entrenched telecom industry.
Why now: Investors are repricing telecom stocks after SpaceX's spectrum purchase signalled a credible new competitor in wireless connectivity.
SpaceXElon MuskUS telecom companiesFederal Communications Commission
Evidence
- US telcos shed $60bn in value after SpaceX announces spectrum purchase · Financial Times
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