CONX seeks FCC approval to buy majority stake in MobileX

TL;DR

• CONX, the special purpose acquisition company linked to Charlie Ergen, filed for US Federal Communications Commission approval to acquire a majority stake in MobileX.
• MobileX is a Verizon MVNO, or mobile virtual network operator, with about 107,000 subscribers.
• Verizon is also set to acquire a 12.5% stake in MobileX, according to the filing details reported by Light Reading.

CONX formally sought approval from the US Federal Communications Commission to acquire a majority stake in MobileX, according to a Light Reading report published on the FCC filing. The filing concerns MobileX, a US mobile provider that operates as a Verizon MVNO, or mobile virtual network operator.

MobileX has about 107,000 subscribers, according to the filing details cited by Light Reading. A mobile virtual network operator does not own its own radio access network and instead sells service using another operator’s network, in this case Verizon’s network in the United States.

Verizon is also set to acquire a 12.5% stake in MobileX as part of the transaction described in the FCC filing. The report identifies CONX as Charlie Ergen’s SPAC, or special purpose acquisition company, and says the company has formally requested regulatory approval for the deal.

Related questions

• How many subscribers does MobileX have?
• What stake in MobileX is Verizon set to acquire?
• Why does CONX need FCC approval for the MobileX transaction?