Europe's Big 4 telcos just formed a JV to bid on MSS spectrum in May 2027. What it means for AST SpaceMobile (ASTS) and Starlink.
Anpanman breaks down the joint venture announced by Deutsche Telekom, Orange, Telefonica and Vodafone to pursue S-band spectrum for advanced direct-to-cell service in Europe. He explains how the 60 MHz currently held by Viasat and EchoStar is likely to be split into three buckets, and why the venture is built around European sovereignty. He also covers why the announcement is a big deal for ASTS stock, with Deutsche Telekom now publicly acknowledged as an AST SpaceMobile partner.
The discussion then moves to sovereignty and satellite architecture. Anpanman compares AST's bent-pipe design, where data lands in the same country it originates in, with Starlink's roaming network model and the Ukraine controversy. He also looks at how regulators, the US ambassador, Amazon, Globalstar and the Viasat-backed Equatys JV fit into the picture.
In the live Q&A, Anpanman answers questions on a possible T-Mobile MOU, the EchoStar spectrum deal, antitrust limits on SpaceX launches, and why AST stays low-profile in the press release. He also explains how a separate spectrum company and satellite company could be structured, and gives a quick update on satellites at the Cape and in Midland.
00:00 Introduction
00:54 Market Crash Fears and Crypto Futures
02:46 The Verge on Starlink vs Mobile Operators
04:22 Sovereignty and Bent-Pipe Architecture
06:03 Ukraine and the Starlink Control Debate
09:34 Europe's Big 4 Form a Spectrum Joint Venture
10:56 How the S-Band Spectrum Gets Split in 2027
13:51 Will Starlink Get an Allocation?
16:33 Why AST's MNO Partnership Model Wins
21:41 Amazon, Globalstar and Architecture Risks
26:21 Why the JV Leaves the Satellite Partner Open
29:14 Viasat and Equatys JV vs AST
30:51 Deutsche Telekom Confirmed as an AST Partner
34:34 AST's Press Release and Executive Quote
42:15 Audience Q&A Begins
47:25 EchoStar and European Spectrum Risk
49:22 Antitrust and Launch Questions
54:05 Why AST Stays Low-Profile
57:31 Spectrum Co vs Sat Co Structure
1:00:38 Satellite Update and Wrap-Up
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