FILE PHOTO: A satellite model is placed on EchoStar Satellite Services logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File photo
NEW YORK (Reuters) -Shares of EchoStar rose as much as 50% on Monday following a late Friday Bloomberg report that U.S. President Donald Trump urged EchoStar Chairman Charlie Ergen and Federal Communications Commission Chair Brendan Carr to reach a deal over the fate of the company's wireless spectrum licenses.
The telecommunications services company's stock also surged after the bell on Friday due to the report, which said Trump met on Thursday with Ergen and he telephoned Carr, who came to the White House to join the meeting. EchoStar did not immediately respond to a request for comment.
