Updated: SpaceX spectrum trading triggers industry shock, US and European telecom stocks decline

路透社2026/10/09 11:47

Show original

In early trading of the S&P 500 index components, T-Mobile and Verizon led the declines as the European telecom sector fell to its lowest point since January. According to an updated report with stock price data and charts by Rashika Singh from Reuters on October 9, U.S. and European telecom stocks dropped sharply on Friday amid growing concerns about intensified competition in satellite mobile services after SpaceX’s acquisition of low-band spectrum. T-Mobile US, Verizon, and AT&T saw pre-market losses ranging from 5.5% to 7.4%, while the STOXX Europe 600 Telecommunications Index fell over 2% to its lowest level since January 30. Among the largest European telecom operators by market value, Deutsche Telekom dropped 6.5%, Vodafone decreased by 4.1%, Orange fell by 2.3%, and Telefónica dipped 3.9%. The stock declines followed reports (link) that SpaceX agreed to acquire a nationwide 800 MHz spectrum portfolio from private equity firm Grain Management for approximately $8 billion. This move bolsters SpaceX’s ambitions in satellite-to-cellular network connectivity. Analysts at Morgan Stanley commented, “We believe the Grain deal clearly indicates that SpaceX will pursue a more aggressive approach in spectrum acquisitions,” adding that any threat to existing operators would likely emerge gradually, starting with rural markets. Compared to higher-frequency radio waves, low-band spectrum travels longer distances and more effectively penetrates buildings and obstacles, which may facilitate SpaceX in advancing its Starlink Mobile service. Although financial terms were not disclosed by the parties, The Wall Street Journal cited sources valuing the deal at $8 billion. SpaceX shares rose 4% following the announcement, though the transaction is still subject to regulatory approval. [Chart link: https://www.reuters.com/graphics/BRV-BRV/lbvgxnzxepq/chart.png] Communications tower stocks bucked the sector-wide sell-off, as investors bet that SpaceX’s wireless ambitions would ultimately drive demand for more ground infrastructure. American Tower, Crown Castle, and SBA Communications saw gains between 6.7% and 8.3%. Morgan Stanley noted the deal is a “marginal positive” for communications tower operators, pointing out that even satellite-dominated networks may require the deployment of towers, rooftop and small cell sites, and that broader urban competition would necessitate substantial ground-based infrastructure and spectrum resources. (Reuters provides automated translations of its reports in several other languages for the benefit of non-English readers. Automated translations may be inaccurate or lack necessary context, and Reuters does not guarantee the accuracy of translated texts. Automated translations are provided for convenience only, and Reuters is not liable for any damage or loss caused by the use of automated translation services.)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.