𝗟𝗲𝘁'𝘀 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗮𝘁 𝗠𝗩𝗡𝗢 𝗡𝗮𝘁𝗶𝗼𝗻 𝗘𝘂𝗿𝗼𝗽𝗲 𝟮𝟬𝟮𝟲 𝖳𝗁𝖾 𝖾𝗏𝗈𝗅𝗎𝗍𝗂𝗈𝗇 𝗈𝖿 𝖾𝖲𝖨𝖬 𝗂𝗌 𝖼𝗋𝖾𝖺𝗍𝗂𝗇𝗀 𝗇𝖾𝗐 𝗈𝗉𝗉𝗈𝗋𝗍𝗎𝗇𝗂𝗍𝗂𝖾𝗌 𝖿𝗈𝗋 𝖬𝖵𝖭𝖮𝗌 𝗂𝗇 𝖨𝗈𝖳 𝖺𝗇𝖽 𝖾𝗇𝗍𝖾𝗋𝗉𝗋𝗂𝗌𝖾 𝖼𝗈𝗇𝗇𝖾𝖼𝗍𝗂𝗏𝗂𝗍𝗒. 𝖡𝗎𝗍 𝗁𝗈𝗐 𝖼𝖺𝗇 𝗍𝗁𝖾 𝗂𝗇𝖽𝗎𝗌𝗍𝗋𝗒 𝗍𝗋𝖺𝗇𝗌𝗅𝖺𝗍𝖾 𝗍𝗁𝖾 𝖾𝗆𝖾𝗋𝗀𝗂𝗇𝗀 𝖲𝖦𝖯.𝟥𝟤 𝗌𝗍𝖺𝗇𝖽𝖺𝗋𝖽 𝗂𝗇𝗍𝗈 𝗋𝖾𝖺𝗅-𝗐𝗈𝗋𝗅𝖽 𝖽𝖾𝗉𝗅𝗈𝗒𝗆𝖾𝗇𝗍𝗌 𝖺𝗇𝖽 𝗇𝖾𝗐 𝖻𝗎𝗌𝗂𝗇𝖾𝗌𝗌 𝗈𝗉𝗉𝗈𝗋𝗍𝗎𝗇𝗂𝗍𝗂𝖾𝗌? 𝖩𝗈𝗂𝗇 𝗈𝗎𝗋 𝖱𝖾𝗌𝖾𝖺𝗋𝖼𝗁 𝖣𝗂𝗋𝖾𝖼𝗍𝗈𝗋, Mohit Agrawal (@MohitOpinion), 𝖺𝗍 MVNO Nation 𝖤𝗎𝗋𝗈𝗉𝖾 𝟤𝟢𝟤𝟨, 𝗐𝗁𝖾𝗋𝖾 𝗁𝖾 𝗐𝗂𝗅𝗅 𝗌𝗉𝖾𝖺𝗄 𝗈𝗇 “𝗡𝗲𝘄 𝗲𝗦𝗜𝗠 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗳𝗼𝗿 𝗜𝗼𝗧 – 𝗛𝗼𝘄 𝗖𝗮𝗻 𝗠𝗩𝗡𝗢𝘀 𝗦𝗲𝗶𝘇𝗲 𝘁𝗵𝗲 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆?” 𝖧𝖾 𝗐𝗂𝗅𝗅 𝖾𝗑𝗉𝗅𝗈𝗋𝖾 𝖲𝖦𝖯.𝟥𝟤 𝖺𝖽𝗈𝗉𝗍𝗂𝗈𝗇, 𝖾𝖺𝗋𝗅𝗒 𝖽𝖾𝗉𝗅𝗈𝗒𝗆𝖾𝗇𝗍 𝗂𝗇𝗌𝗂𝗀𝗁𝗍𝗌, 𝖺𝗇𝖽 𝗍𝗁𝖾 𝗈𝗉𝗉𝗈𝗋𝗍𝗎𝗇𝗂𝗍𝗂𝖾𝗌 𝗍𝗁𝗂𝗌 𝗇𝖾𝗐 𝗌𝗍𝖺𝗇𝖽𝖺𝗋𝖽 𝗉𝗋𝖾𝗌𝖾𝗇𝗍𝗌 𝖿𝗈𝗋 𝖬𝖵𝖭𝖮𝗌. 𝗗𝗮𝘁𝗲: 𝖭𝗈𝗏𝖾𝗆𝖻𝖾𝗋 𝟦, 𝟤𝟢𝟤𝟨 𝗧𝗶𝗺𝗲: 𝟫:𝟣𝟧 – 𝟫:𝟥𝟢 𝖠𝖬 𝗣𝗹𝗮𝗰𝗲: 𝖧𝗈𝗍𝖾𝗅 𝖬𝖾𝗅𝗂á 𝖵𝗂𝗅𝗅𝖺𝗂𝗍𝖺𝗇𝖺, 𝖠𝗅𝗂𝖼𝖺𝗇𝗍𝖾, 𝖲𝗉𝖺𝗂𝗇 𝖫𝖾𝗍'𝗌 𝖼𝗈𝗇𝗇𝖾𝖼𝗍 𝖺𝗇𝖽 𝖾𝗑𝗉𝗅𝗈𝗋𝖾 𝗍𝗁𝖾 𝖿𝗎𝗍𝗎𝗋𝖾 𝗈𝖿 𝖨𝗈𝖳 𝖼𝗈𝗇𝗇𝖾𝖼𝗍𝗂𝗏𝗂𝗍𝗒! 𝖤𝗆𝖺𝗂𝗅 𝗂𝗇𝖿𝗈@𝖼𝗈𝗎𝗇𝗍𝖾𝗋𝗉𝗈𝗂𝗇𝗍𝗋𝖾𝗌𝖾𝖺𝗋𝖼𝗁.𝖼𝗈𝗆 𝗍𝗈 𝗌𝖼𝗁𝖾𝖽𝗎𝗅𝖾 𝖺 𝗆𝖾𝖾𝗍𝗂𝗇𝗀 𝗐𝗂𝗍𝗁 𝖬𝗈𝗁𝗂𝗍. 𝗥𝗲𝗮𝗱 𝗼𝘂𝗿 𝗹𝗮𝘁𝗲𝘀𝘁 𝗿𝗲𝗽𝗼𝗿𝘁 𝘁𝗼 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗵𝗼𝘄 𝗲𝗦𝗜𝗠 𝗼𝗿𝗰𝗵𝗲𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗮𝗻𝗱 𝘂𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝗻𝗲𝘄 𝗴𝗿𝗼𝘄𝘁𝗵 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀: #MVNONationEurope# #MVNO# #eSIM# #SGP32# #IoT# #EnterpriseConnectivity# #MobileConnectivity#

$VZ rules out giving $SPCX Starlink MVNO access saying theres “no back door” through its wireless network. The move supports $ASTS carrier-first model with Verizon instead planning to deliver satellite connectivity through its joint venture with $T and $TMUS.

Carrier Enablement (or "MVNE") is the back office solution to launch, scale, and manage your MVNO. HeliumOS delivers the most turnkey and seamless experience in the market and with a native network attached to it. Dig in:

🚨 Don’t count out Starlink just because a telecom CFO sounds confident! @thejefflutz’s take: the “slow-moving train” skepticism (MVNO / femtocell framing) might get the physics right in spots… and still miss the strategy and economics. SpaceX doesn’t need to win the way T-Mobile wins. Different cost structure. Different endgame. If you’re only modeling this like a phone company, you’re probably underestimating it! $SPCX

Bernstein Upgrades $AMT to Outperform, PT $207 Analyst comments: "Several overhangs weigh on the AMT story today, each of which we feel is overstated. The first is satellite risk, which we wrote about yesterday. We believe that, in order to compete with terrestrial wireless solutions, direct-to-device (D2D) satellite plans will require either a low-band terrestrial deployment or an MVNO partnership to make them truly competitive for nationwide wireless. Either of these scenarios is positive for tower companies. Secondly, we anticipate rate hike(s) in the future. AMT, along with its REIT peers, is extremely sensitive to rates. We estimate a -0.87 inverse correlation with the 10-year over the last decade because of both the leverage position and the relative trade-offs against bonds. AMT has been reducing its floating-rate debt — ~4% exposure at $1.4 billion, most of which matures in 2028 — and strengthening its credit rating, mitigating the exposure that the market is already pricing. Third, the company has already taken Dish churn out of its model and is involved in litigation to claw back those revenues. The FCC has now created a $2.4 billion escrow fund to pay infrastructure providers on whom Dish has defaulted. While we believe AMT should do better than its share of this escrow account, it represents a floor should litigation fail." Analyst: Madison Rezaei