SpaceX to acquire spectrum that enables Starlink Mobile services

SpaceX announced on Thursday an agreement to acquire a nationwide low-band spectrum license portfolio that will enable Starlink Mobile to become a major telecom operator in the US.

While Starlink Mobile's existing global 2 GHz mid-band spectrum will provide high-bandwidth capacity in the United States, the new spectrum will enable Starlink Mobile's signal to penetrate through obstacles.

Shares of T-Mobile US fell 2.7% in extended trading, while Verizon and AT&T were down 3% and 3.6%, respectively.