SpaceX snaps up the 800 MHz spectrum T-Mobile dumped for $2.9 billion — and T-Mobile, Verizon, AT&T stocks are sliding

When T-Mobile and Sprint completed their merger in 2020, one of the conditions the company agreed to was selling off its 800 MHz spectrum portfolio. It took a while, but that sale was completed in August. Authorities at the company didn't realize it at the time, but the deal opened the door for a major new competitor to emerge: SpaceX. And that's hitting shares of not just T-Mobile, but all cellular carriers, hard.