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Large telecoms down after EchoStar spectrum sale to SpaceX

In early trading, shares of T-Mobile (TMUS) are down 5%, Verizon (VZ) down 2.6%, Charter Communications (CHTR) down 3%, and AT&T (T) down 3% following, with weakness attributed to EchoStar (SATS) announcement of a spectrum sale to SpaceX for $17B.

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