Telecom stocks slide after SpaceX low-band spectrum acquisition
US and European telecom shares fell in premarket trading after concerns that SpaceX’s acquisition of low-band spectrum could intensify competition from satellite-based mobile services.
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09:14:50 AM UTC
SquawkNews
By Sruthi ShankarEuropean stocks rebounded on Friday as oil prices and bond yields eased on hopes of a pause in the Middle East war, though telecom stocks slid after SpaceX's deal to acquire a nationwide spectrum portfolio in the US caused ripples across the sector.The pan-European STOXX 600 TVC:SX…
09:26:37 AM UTC
SquawkNews
Shares of Deutsche Telekom XETR:DTE were on track for their worst trading day in more than three years on Friday, after SpaceX NASDAQ:SPCX on Thursday announced an agreement to buy a nationwide low-band spectrum license portfolio, enabling Starlink Mobile to become a major telecom operator in the U…
US and European telecom stocks fell on Friday after SpaceX's acquisition of low-band spectrum raised concerns about increasing competition from satellite-based mobile services. T-Mobile US NASDAQ:TMUS, Verizon NYSE:VZ and AT&T NYSE:T fell between 5% and 6% in premarket trading, while the STOXX Eu…