AT&T, Verizon and T-Mobile warn FCC as SpaceX plots a US phone network by 2028
FROM THE WIRE · FINANCE.YAHOO.COM
AT&T, Verizon and T-Mobile have spent months insisting a satellite company can't compete with their networks. Investors aren't convinced. On Oct. 23, shares of AT&T (NYSE:T) and T-Mobile (NASDAQ:TMUS) each fell nearly 8% after Bloomberg reported that SpaceX is in talks to access…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA possible SpaceX entry as a fourth nationwide carrier sent AT&T and T-Mobile down nearly 8%, a major sector repricing.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Bloomberg reported SpaceX is in talks to access at least 80,000 US cell sites.
- 02On Oct. 23, AT&T and T-Mobile shares each fell nearly 8%, while Verizon slipped about 1.2%.
- 03The carriers' trade group CTIA filed a letter with the FCC following Oct. 20 meetings with agency officials.
- 04The letter does not mention SpaceX, which wants to become one of those nationwide carriers.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
AT&T Inc.20.93 USDMarket closedtoday -7.96%Negative T-Mobile US, Inc.146.54 USDMarket closedtoday -7.71%Negative Verizon Communications Inc.44.66 USDMarket closedtoday -1.19%Negative Space Exploration Technologies Corp.147.49 USDMarket closedtoday +1.89%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets