Market Pulse Archives

Nov. 19, 2019, 4:24 a.m. EST

SES shares tumble 20% after FCC chairman voices support for public airwaves sale

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X

or Cancel Already have a watchlist? Log In

By Barbara Kollmeyer


Shares of SES SA FDR /zigman2/quotes/202472664/delayed FR:SESG -1.72% tumbled 21% on Tuesday, a day after Federal Communications Chairman Ajit Pai said via Twitter that he would back a public auction to free up spectrum for 5G. Luxembourg-based satellite companies SES and Intelsat SA were lobbying for a private auction of the so-called C-band spectrum, used to deliver videos and radio programs to U.S. households. The FCC wants to free it up for carriers to bid on as 5G service gears up. Pai said the agency wants to make C-band spectrum available quickly for 5G and also must generate revenue for the government, saying the best way forward is an auction of 280 megahertz of the C-band. Intelsat shares plunged 40% on Monday.

FR : France: Euronext Paris
-0.15 -1.72%
Volume: 281,153
May 27, 2022 3:19p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.