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Shares in America's three largest wireless carriers fell sharply on Friday after SpaceX announced an agreement to acquire a nationwide 800 MHz spectrum portfolio from Grain Management, as it moves to turn Starlink into a mobile network.
Verizon closed down 8.75 per cent, its worst session since July 2002. T-Mobile fell 13.27 per cent and AT&T 9.81 per cent, their steepest declines since 2013 and 2000 respectively. Estimates of the combined market value lost across the three range from $50 billion to $60 billion. SpaceX shares rose around 1 per cent.
The portfolio comprises up to 14 megahertz of paired 800 MHz licences. Low-band spectrum carries further and penetrates obstacles such as walls, which SpaceX described as closing one of the key remaining technical gaps between Starlink Mobile and status as a major US carrier. The price was not disclosed, though reports put it at around $8 billion.
5 reports filed for Saturday 10 October 2026, compiled from company statements, registry filings and StartupFox reporting. Figures marked reported were not confirmed by the companies named.
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