Deutsche Telekom falls 7% on SpaceX spectrum deal

Deutsche Telekom shares dropped 7.0% on October 9, 2026, trading down to 24.97 euros, with alternative market records citing 24.885 euros. The decline followed news that SpaceX reached a definitive agreement on October 8, 2026, to purchase a nationwide 800 MHz spectrum portfolio from private equity firm Grain Management. Media reports valued the transaction at 8.0 billion dollars.

The transaction includes 14 MHz of paired low-band spectrum. SpaceX holds authorization from the Federal Communications Commission for 15,000 mobile-dedicated Gen2 satellites. A planned 2027 FCC auction also involves 160 MHz of mid-band spectrum. Investors took the acquisition as a sign of direct competition for established wireless carriers.

The pressure spread directly to Deutsche Telekom through its majority stake in T-Mobile US, where it holds a 54.0% ownership position, also reported at 52.8%. T-Mobile US, which counted 142 million customers in 2025, fell 6.0% in premarket trading. Deutsche Telekom shares are down 7.0% year to date, down 17.0% over the trailing six months, and sit 25.0% below their peak earlier in the year.

The selloff affected telecom operators across Europe, pulling the STOXX Europe Telecommunications index down 3.3%. Vodafone Group fell 4.5%, Orange slid 3.4%, Telefonica lost 3.3%, Koninklijke KPN dropped 2.1%, and BT Group declined 1.4%.