BUZZ-EchoStar climbs on report Verizon in talks to buy co's wireless spectrum
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Shares of EchoStar (SATS.O) rose 6.2% to $78.20 in premarket trading following reports that Verizon Communications (VZ.N) is in talks to acquire the company's wireless spectrum, specifically the AWS-3 licenses crucial for 5G. If the deal goes through, Verizon would join AT&T and SpaceX in purchasing SATS spectrum licenses. SATS values its AWS-3 spectrum at $9.8 billion, and the company's stock has more than tripled in value year-to-date.
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