Market News / Story
Telecom tower REIT stocks jump after SpaceX-Grain Management spectrum deal
Seeking Alpha ·
Seeking Alpha reports: Telecom tower REIT stocks were surging after investment firm Grain Management said SpaceX is set to acquire 100% of its nationwide 800 MHz spectrum portfolio. The Elon Musk-led space company will pay about $8B in cash for the assets to the seller, the Wall Street Journal reported, citing people familiar with the matter. Telecom shares, including T-Mobile , Verizon , and AT&T , dipped on the news amid competition concerns. However, telecom tower REIT stocks were…