BUZZ-SpaceX shares rise as it reaches agreement to acquire nationwide low-frequency spectrum portfolio

October 9 - ** SpaceX (SPCX.O) shares rose 3.8% in pre-market trading to $166.70

** The company (link) has reached an agreement to acquire nationwide low-frequency spectrum in order to challenge US wireless carriers

** According to The Wall Street Journal, SpaceX will pay Grain Management approximately $8 billion to acquire relevant assets, thus obtaining radio waves capable of long-distance transmission and penetrating dense structures such as walls

** The financial terms of the agreement have not yet been disclosed by both parties

** This acquisition is expected to enhance Starlink Mobile's "direct-to-device" service and reduce reliance on traditional base stations

** The deal intensifies the competition between satellite communications and cellular networks, making the challenges faced by existing wireless carriers even more severe

** The transaction is still subject to approval by the US Federal Communications Commission

** As of the previous trading day's close, SPCX shares had risen more than 18% compared to the IPO issue price of $135

(To facilitate non-English speakers, Reuters has automated the translation of its reports into several other languages. Because automated translation may contain errors or lack contextual accuracy, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for the convenience of readers. Reuters accepts no liability for any damage or loss caused by the use of automated translation functions.)