SpaceX Is in Talks to Buy Boost Mobile or Use Its Network, Washington Post Reports

SpaceX could move into the U.S. mobile phone business. Reuters and MarketWatch, citing the Washington Post, report that it is in talks over EchoStar's Boost Mobile.

What's reported

• The options under discussion are buying Boost Mobile outright or using its network.
• Musk met EchoStar chairman Charlie Ergen last month.
• EchoStar had 7.38 million wireless subscribers at the end of the second quarter.
• Any deal might need consent from AT&T and T-Mobile, according to the reports.

Market reaction

EchoStar shares rose about 3.4% in premarket trading, and T-Mobile fell about 2%. SpaceX and EchoStar didn't comment.

Why it matters

MarketWatch says SpaceX wants to build a fourth national wireless carrier to rival AT&T, Verizon and T-Mobile, and that Boost and its network could be a shortcut. This is an unconfirmed report, and no deal has been announced.