Telstra Group Shares Extend Losses Following SpaceX Spectrum Deal
MT Newswires Live
1 hour ago
Telstra Group (ASX:TLS) shares fell past 2% in recent Monday trade, extending losses from the previous trading session, after SpaceX's recent deal to acquire a US low-band spectrum license portfolio of up to 14 megahertz.
SpaceX said Oct. 8 that the low-band spectrum addresses one of the key remaining technical gaps that will allow its Starlink service to become a major mobile carrier in the US.
Telstra Group shares declined alongside US telecommunications stocks as investors assessed the potential competitive impact of the development.
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