The prices of Verizon and AT&T fell on Thursday after The Wall Street Journal reported that the telecom companies had agreed to postpone the December 5 rollout of a new 5G frequency band.
Verizon, the largest telecom business in the United States by subscribers, declined 1.6 %, while AT&T fell 0.5 %.
The decision was made as the firms sought to resolve the FAA's worries regarding interfering with safety equipment in airplane cockpits.
Interference between frequency bands utilized by various end-users for their services has long been a problem, particularly between telecom service providers and airplanes. It is also contentious due to a paucity of spectrum in comparison to the demand from diverse parties.
T-Mobile, which claims to have the country's largest 5G network, rose 0.8 %. The second-largest telecommunications provider reported third-quarter earnings that exceeded expectations on Tuesday.