Starlink pushes into mobile and new markets: Venezuela grants operating approval
Venezuela's president has approved the satellite internet service. India rejects Musk's criticism of its approval process. And European telecom shares come under pressure.
Symbolic image · Photo: Wikideas1 / Wikimedia Commons, CC0 (cropped and resized)
SpaceX's satellite internet service Starlink will be allowed to operate in Venezuela. Venezuela's president has approved its operation in the country, Reuters reported on Friday. India, meanwhile, rejected Elon Musk's claim that the approval process for Starlink is unfair, according to Al Jazeera. At the same time, American Airlines announced it will put Starlink on all of its more than 1,000 mainline jets.
SpaceX is also buying nationwide 800 MHz spectrum in the US to connect phones directly via satellite. According to Reuters, the spectrum deal weighed on European telecom stocks on Friday, and telecom shares also fell in London. However, research firm MoffettNathanson does not consider the agreement enough to challenge the three major wireless carriers.