Australian and New Zealand Telecom Stocks Slide After SpaceX Spectrum Deal
Telecom stocks in Australia and New Zealand fell after SpaceX acquired a nationwide US spectrum portfolio, stoking fears that satellites could challenge legacy telecom firms and their network coverage.
Telecom shares in Australia and New Zealand fell sharply on Monday after SpaceX's NASDAQ:SPCX acquisition of a nationwide US spectrum portfolio raised concerns that satellite services could challenge established carriers and their network coverage. Telstra, Australia's leading telecom company, ASX:TLS…