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Telecom stocks in Australia, NZ slide after SpaceX spectrum deal

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 network coverage.

The Star MalaysiaKumar Tanishk查看原文 ↗
SpaceX频谱交易后,澳大利亚和新西兰的电信股下跌。

FILE PHOTO: The SpaceX logo in this illustration taken June 11, 2026. REUTERS/Dado Ruvic/Illustration//File Photo

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 network coverage.

Australia's top telecom firm Telstra shed 2.5% to finish at a six-week low, while no.3 ​operator, TPG Telecom, lost nearly 5% in ⁠its worst day since early ⁠June. Spark New Zealand slipped 1.8%.

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