The space company is one step closer to offering mobile connections to smartphones directly from space. The stocks of its competitors, particularly $DTE (+1,32%)
$VZ (-0,23%) and $T (+1,4%) are falling sharply.
The space company SpaceX , with its satellite operator Starlink, is challenging established U.S. mobile carriers such as T-Mobile US and Verizon . SpaceX On Thursday, it agreed to purchase a nationwide portfolio of low-frequency spectrum to offer mobile connections directly from space to smartphones in the future.
The seller of the 800-megahertz frequencies is the private equity firm Grain Management, which is divesting its entire portfolio. Financial details were not disclosed.
With this acquisition, SpaceX, led by the entrepreneur, Elon Musk one of the biggest technical hurdles for satellite-based mobile networks. Low-frequency bands can penetrate obstacles such as walls or trees more effectively. They are intended to complement Starlink Mobile’s existing global 2-gigahertz spectrum, which is designed for high bandwidths. The deal still requires approval from the U.S. Federal Communications Commission (FCC).
The move caused unease on the stock market, as investors fear an aggressive price war in the already saturated U.S. mobile market. Shares of T-Mobile US, Verizon and AT&T fell.
Earlier this week, the FCC also approved the application for Starlink Mobile’s second generation of satellites. This allows SpaceX to launch 15,000 satellites into space that are optimized for the 2-gigahertz spectrum worldwide.
Source: Handelsblatt
