Shares of EchoStar Corp (NASDAQ:SATS) are skyrocketing Tuesday, climbing over 70% after the company announced a definitive agreement to sell a portfolio of its wireless spectrum licenses to AT&T Inc (NYSE:T) in a $23 billion all-cash transaction.
What To Know: The move marks one of the season’s most significant strategic deals, positioning AT&T to bolster its 5G network and fiber infrastructure. The acquisition will provide AT&T with approximately 50 MHz of crucial nationwide spectrum, including 30 MHz of 3.45 GHz mid-band and 20 MHz of 600 MHz low-band airwaves.
