EchoStar Gains on Report Starlink, T-Mobile Eyeing Spectrum

(Adds stock move in headline, first bullet.)

EchoStar shares are extending Tuesday’s gain, rising 7.5% in postmarket trading after Elon Musk’s Starlink and T-Mobile separately expressed interest in acquiring some or all of the spectrum controlled by the firm, Semafor reports, citing unidentified people familiar with the matter.

• EchoStar shares closed up 70%, a record high, during regular session trading after reaching a deal to sell spectrum licenses to AT&T
• NOTE: AT&T to Buy EchoStar Spectrum Licenses for About $23 Billion

ADDITIONAL INFORMATION

• Musk’s bid is for a part of EchoStar’s spectrum that AT&T has been valued at roughly $30b ...