Telecom stocks fall amid SpaceX spectrum deal
Shares of U.S. telecommunications companies declined between 9.6% and 12.9% after SpaceX announced its acquisition of a portfolio of low-frequency spectrum licenses in the United States, a move that threatens the market share of major telecom firms and poses a direct challenge to them. This deal has raised market concerns about its potential impact on competition and profitability in the wireless communications sector.
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