Telecom operators will have a big competitor – “Not a toy company”

Shares of major US telecom operators fell sharply on Friday after Elon Musk’s a space technology and artificial intelligence company SpaceX was told having acquired a significant number of mobile spectrum licenses in the United States.

“It would seem that SpaceX wants to participate and take over the field in the mobile market and move to compete with telecom operators”, stock market reporter Antti Kailio told Kauppalehti live Economic morning on Monday.

AT&T:n, Verizon’s and T-Mobile shares fell by ten percent or even more on Friday.

“The reaction was strong. AT&T, Verizon and T-Mobile in the United States came down hard. It probably shows that SpaceX is a pretty high-profile competitor, not a play company. You can clearly see the potential,” Kailio said.