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By Kumar Tanishk Oct 12 (Reuters) - Telecom stocks in Australia and New Zealand tumbled on Monday after SpaceX's acquisition of a nationwide spectrum portfolio in the US stoked fears that satellites could challenge legacy telecom firms and their netw...
By Kumar TanishkTelecom stocks in Australia and New Zealand tumbled on Monday after SpaceX's NASDAQ:SPCX acquisition of a nationwide spectrum portfolio in the US stoked fears that satellites could challenge legacy telecom firms and their network coverage.Australia's top telecom firm Telstra ASX:TLS…
Following SpaceX's acquisition of spectrum, Telstra, TPG Telecom, and Spark New Zealand faced substantial stock drops, raising investor alarms over competitive pressure from satellite mobile services. Analysts point to Telstra's dependency on its coverage strengths amidst shifting regional pricing dynamics, although…