SpaceX: Suddenly a competitor to T-Mobile: The Starlink antenna on the roof is supposed to become a cell tower
SpaceX turns from partner of mobile phone companies into their rival. The telecom stock has been sharply down since Friday. An application to the US regulator FCC shows what Musk plans with Starlink.
US billionaire Elon Musk's company SpaceX is planning to build a mobile network, causing a shock in the industry worldwide. The news has led to a decline in telecom stocks, including a more than 7% drop in Deutsche Telekom's shares since Friday. SpaceX has acquired low-band frequencies from Grain Management, which will help the company establish a mobile network in the US.
This move could make SpaceX a rival to T-Mobile, and marks a shift from its current role as a provider of satellite connections to supplement the networks of Verizon, T-Mobile, and AT&T. The frequency purchase, valued at $8 billion, is a key step towards achieving Musk's goal of providing comprehensive mobile coverage in the US.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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