SpaceX's New Spectrum Portfolio was Once T-Mobile's
Dow Jones
2 hours ago
1707 ET - Spectrum licenses that once belonged to T-Mobile US have now fallen into the hands of one of its fastest-moving competitors: Elon Musk's SpaceX. T-Mobile in August sold its portfolio of 800 megahertz spectrum licenses to Grain Management in exchange for Grain's 600 MHz licenses and $2.9 billion in cash. Grain has now sold that portfolio to SpaceX, which has explicitly said that its Starlink Mobile business aims to take market share from T-Mobile and its telecommunications rivals, Verizon and AT&T. "This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX says. T-Mobile shares fall 6.6% after-hours.
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