Musk’s SpaceX spends $17 billion to acquire spectrum licenses from EchoStar
Elon MuskSpaceX has reached an agreement with Echostar about $ 17 billion for spectrum licenses to strengthen the Starlink satellite network.
The agreement for Echostar’s AWS-4 and H-Blok spectrum licenses is up to $ 8.5 billion in cash and SpaceX shares up to $ 8.5 billion. SpaceX will pay about 2 billion dollars of cash interest rates to Echostar debt by November 2027.
SpaceX and Echostar will enter into a long -term commercial agreement that will allow Echostar’s support mobile subscribers to access SpaceX directly to the new generation Starlink.
Echostar shares increased by more than 23% before Sunday was opened on Monday.
Last month AT & T Echostar, a significant expansion of low and middle band coverage networks, said that it would spend $ 23 billion to obtain wireless spectrum licenses.
Echostar said that the AT&T agreement and the SpaceX transaction will solve the latest questions from the Federal Communication Commission on the presentation of 5G technology in the United States.
Echostar said on Monday that he would use the revenues from the sale to pay the debt partially. The company said Dish TV, Sling and Hughes’ current operations will not be affected.
