Deutsche Telekom CEO says SpaceX has a massive mountain to climb to compete in mobile: 'Welcome to the party!'
Source: Business Insider ·
The CEO of Deutsche Telekom, which owns most of TMobile US, said SpaceX will need to spend €200 billion if it wants to offer a mobile network.
From the source
"Welcome to the party," Deutsche Telekom CEO Tim Höttges said of SpaceX's Starlink mobile play.Yen Duong/Bloomberg via Getty ImagesDeutsche Telekom CEO Tim Höttges is watching SpaceX's Starlink mobile ambitions closely.A competitive network would need a land-based presence, and that will cost a lot of money, he said.Höttges' larger concern is SpaceX creating a new kind of communication business, as Musk did in autos.The CEO of one of Europe's largest telecom networks is not stressed about Elon Musk's Starlink mobile ambitions — yet."If he has the money, go for it," Deutsche Telekom CEO Tim Höttges said during the company's third-quarter earnings call Thursday. "My assessment is that SpaceX, at least, if they want to play in that industry, needs at least minimum €200 billion."Deutsche Telekom owns a 55% controlling share of T-Mobile US.Like his US counterparts at AT&T and Verizon, Höttges said that satellite-based networks aren't sufficient for handling the kind of mobile coverage…