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SpaceX Buys $8B Spectrum Portfolio to Expand Starlink Mobile

By Drooid · Oct 12, 2026, 2:01 PM UTC · How we work

Summary

Story summary

SpaceX bought a U.S. nationwide low-band spectrum portfolio for about $8 billion to expand Starlink Mobile.
The purchase sparked a sell-off in Australian and New Zealand telecom stocks.
Telstra fell 2.5% to a six-week low after the news.
TPG Telecom dropped nearly 5%, marking its steepest daily decline since early June.
Spark New Zealand slipped 1.8% following the spectrum deal.

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Story summary

SpaceX bought a U.S. nationwide low-band spectrum portfolio for about $8 billion to expand Starlink Mobile.
The purchase sparked a sell-off in Australian and New Zealand telecom stocks.
Telstra fell 2.5% to a six-week low after the news.
TPG Telecom dropped nearly 5%, marking its steepest daily decline since early June.
Spark New Zealand slipped 1.8% following the spectrum deal.