Shares of global telecom companies will remain in focus on Monday after a sharp selloff on Friday, when SpaceX announced an agreement to acquire a nationwide portfolio of low-band spectrum licences, raising concerns that Starlink could emerge as a formidable challenger to traditional wireless operators.
Verizon, AT&T and T-Mobile shares fell by up to 13% on Friday as the announcement fuelled concerns over potential disruption to the wireless telecom industry. SpaceX has agreed to acquire up to 14 megahertz of paired spectrum in the 800 MHz band from Grain Management LLC, an investment firm specialising in digital infrastructure.
