SpaceX wants to buy telecommunications frequencies for $17 billion
Elon Musk-controlled SpaceX intends to buy a frequency license from EchoStar Corp. for $17 billion.
Under the signed preliminary agreement, SpaceX will pay $8.5 billion in cash and the remaining $8.5 billion in stock. The contract is subject to approvals from U.S. regulatory authorities.
A long-term commercial agreement will also be concluded that will allow subscribers belonging to EchoStar - the mobile operator Boost Mobile - to directly connect to Starlink satellite internet via 5G technology, the press release stated.
EchoStar will use the proceeds from the agreement to repay debt and fund growth. SpaceX will also pay interest on EchoStar's approximately $2 billion in debt until the end of November 2027.
EchoStar, a satellite communications and digital infrastructure company, announced in late August that it intends to sell frequency licenses to US operator AT&T Inc. for a total of approximately $23 billion.
Journalist, graduate of political science at the Faculty of Law and Administration of the Jagiellonian University. Associated with the media for over 40 years. After graduating in 1982, he worked on the editorial staff of "Gazeta Krakowska" and "Kurier Polski." A member of the editorial team of "Przegląd Techniczny." He has published articles in "Student," "Przekrój," and "Życie Literackie." Since the economic and political transformation, he has been associated with Reuters as a correspondent in Krakow for over 20 years. For the next three years, he conducted practical classes with students at the Institute of Journalism, Media, and Social Communication of the Jagiellonian University. Since December 2021, he has joined the PTWP Group and works for the WNP.PL portal. His main professional interests include economics and politics at the global level and the participation of Polish business in this field, particularly companies listed on the Warsaw Stock Exchange. Winner of the "Ostra Pióra" award, granted for "spreading economic education" by the BCC, as well as the Golden Pear - a journalistic award of the Małopolska Branch of the Association of Journalists of the Republic of Poland.
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