(Updates trading, adds analyst comment.)
EchoStar shares are up 22% in premarket trading, after the satellite broadband company agreed to sell wireless spectrum to SpaceX’s Starlink for about $17 billion in cash and stock.
- Read more:
Musk’s SpaceX Agrees to Buy EchoStar Spectrum for $17 Billion - Vital Knowledge writes that SATS “has undergone a spectacular 180 in just a few months, from considering bankruptcy to seeing a ~$40B windfall,” and that this could make Starlink “a more formidable player in the communications market, potentially encroaching into the traditional wireless market currently dominated by Verizon, AT&T, T-Mobile, etc”
- Among other movers: ...