AST SpaceMobile shares rose after Boost Mobile founder and MobileX CEO Peter Adderton said he was buying the stock and suggested the company could become an acquisition target for telecom giants. His publicly shared thesis is that mobile network operators need a viable satellite-to-cellular competitor to SpaceX’s Starlink.
Adderton said large carriers may seek to secure AST SpaceMobile through a direct acquisition, a joint venture or a global consortium. He argued that such a move would reduce their dependence on SpaceX, which is increasingly viewed as a future competitor in mobile service.
The comments followed a 20% decline in AST SpaceMobile stock last week. Shares rose 3% in premarket trading after the news.