SpaceX Holds Talks to Buy Boost Mobile or Access Network from EchoStar

SpaceX is in preliminary discussions to acquire EchoStar's Boost Mobile or secure access to its network infrastructure to launch a hybrid satellite-terrestrial service branded as Starlink Mobile. EchoStar shares gained up to 4% in premarket trading on the news, while SpaceX rose 2.8% and legacy carriers AT&T and Verizon slipped nearly 1%. SpaceX Chief Executive Elon Musk met with EchoStar Chairman Charlie Ergen last month after major carriers rejected direct access requests. Entering the mobile space follows SpaceX's recent $8 billion wireless spectrum purchase as it targets the $235 billion U.S. wireless market.