‘Real consequences’: AT&T, Verizon and T-Mobile warn FCC as Elon Musk plots a SpaceX phone network for the US by 2028
AT&T, Verizon and T-Mobile have spent months insisting a satellite company can't compete with their networks. Investors aren't convinced. On Oct. 23, shares of AT&T (NYSE:T) and T-Mobile (NASDAQ:TMUS) each fell nearly 8% after Bloomberg reported that SpaceX is in talks to access at least 80,000 U.S. cell sites, a step toward becoming the country's fourth nationwide carrier. Verizon (NYSE:VZ) slipped about 1.2%. The selloff came a day after the carriers' trade group, CTIA, filed a letter with the Federal Communications Commission following Oct. 20 meetings with agency officials. In it, CTIA warned that "the Commission's buildout decisions have real consequences for consumers who rely on ever-increasing wireless capacity to access the modern economy and support their day-to-day living." The carriers' immediate concern is an FCC vote on Oct. 29. The agency will consider a proposal to…




















































