AT&T, AST SpaceMobile tie up to provide space-based broadband network

(Reuters) – Telecom giant AT&T has entered an agreement with AST SpaceMobile to provide a space-based broadband network direct to cell phones, the companies said on Wednesday.

Shares of AST SpaceMobile shot up nearly 49% in extended trading.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Alan Barona)