Verizon, AT&T and T-Mobile drop about 6% after SpaceX agrees to buy nationwide low-band spectrum portfolio
SpaceX said it has agreed to buy a nationwide low-band spectrum portfolio, intensifying competition with U.S. mobile carriers. Shares of Verizon, AT&T and T-Mobile each fell about 6% in after-hours trading on Thursday. The portfolio is being sold by private equity firm Grain Management, which acquired the airwaves from T-Mobile in August. The purchase price was not disclosed.