SpaceX to acquire low-band spectrum for mobile communications services

SpaceX, led by Elon Musk, said on Thursday that it has agreed to acquire a portfolio of low-band spectrum licenses covering the entire United States. The company said on a social platform that the deal will enable SpaceX to use its Starlink satellite service to become a major mobile carrier in the United States. Shares of T-Mobile US Inc., Verizon Communications Inc., and AT&T Inc. all fell more than 5% in after-hours trading in New York.