Elon Musk, T-Mobile's Sievert to 'announce plans' on mobile connectivity

Aug. 24, 2022 1:06 PM ETT-Mobile US, Inc. (TMUS)TWTR, TSLABy: Rex Crum, SA News Editor3 Comments

T Mobile store front inside a mall in New Jersey. T Mobile is the third largest mobile carrier in the US based on number of subscribers.

Tak Yeung/iStock Editorial via Getty Images

It looks like Elon Musk's SpaceX and T-Mobile (NASDAQ:TMUS) are going to have something to say about working together on mobile-phone service.

SpaceX said on its official Twitter (TWTR) feed that Musk and T-Mobile (TMUS) Chief Executive Mike Sievert "will announce plans to increase connectivity" during a webcast on SpaceX.com on Thursday.

Aside from saying that the event would be held at 5 p.m. CT, no other details were divulged.

T-Mobile (TMUS) shares rose 1.3% after SpaceX tweeted about Musk and Seivert's meeting.

Earlier this summer, SpaceX raised almost $1.7B through an equity offering, with plans to use the funds to finance its the development of its Starship rocket project and Starlink satellite network.

Separately, lawyers for Musk, best-known as the CEO of Tesla (TSLA), were in Delaware Chancery Court, Wednesday, in a hearing as part of the lawsuit that Twitter (TWTR) has filed against Musk in an effort to force him to adhere to the terms of his $44B acquisition of the social-media giant. Musk is trying to get out of the deal due to issues with the number of fake or spam accounts on Twitter.

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