Telecoms Up as Traders Bet On Consumer Spending, 'Supercycle -- Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies rose as traders bet the sector would benefit from a "supercycle" of iPhone upgrades and increased economic security.

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Japanese telecom firm SoftBank Group's attempt to arrange a marriage between U.S. satellite startup OneWeb and debt-laden rival Intelsat SA collapsed after Intelsat bondholders failed to back the deal.

OneWeb, which is 20%-owned by SoftBank, in February said it would buy Intelsat, combining two different types of satellite fleets to offer low-cost options world-wide.

(-By Rob Curran, rob.curran@dowjones.com)

(END) Dow Jones Newswires

June 01, 2017 16:39 ET (20:39 GMT)