Charter Gains Over 2% in Premarket Monday on SpaceX Mobile Partnership Talks

According to Bloomberg, Charter Communications (CHTR) shares edged over 2% higher in premarket trading on Monday following reports that the largest U.S. home internet provider is in talks with SpaceX to partner on a consumer mobile phone offering. The deal would entail Charter routing a portion of SpaceX's mobile traffic through its terrestrial broadband network, though neither company has confirmed the reports.

Starlink, SpaceX's satellite internet service, operates across more than 160 countries with over 12 million active customers. A partnership with Charter could expand SpaceX's direct-to-consumer mobile market presence while bolstering Charter's existing wireless business.