The signs were already in plain sight that Elon Musk’s Starlink was positioning itself to challenge the big three U.S. wireless operators: Verizon, AT&T, and T-Mobile.

One of the clearest signals was SpaceX's $17 billion deal for EchoStar wireless spectrum last year, followed by a recent trademark filing for "Starlink Mobile."

We noted in December:

• SpaceX Trademark Filing Signals "Starlink Mobile" May Soon Take Aim At AT&T, Verizon

Now, the Financial Times reports that SpaceX Chief Operating Officer Gwynne Shotwell told institutional investors during the IPO roadshow that the company is considering selling mobile contracts directly to consumers and may eventually build its own terrestrial U.S. mobile network.

"The move would require Starlink to build a new retail offering by selling mobile contracts to individual customers, competing directly with the three big US network operators Verizon Wireless, AT&T and T-Mobile," FT wrote in a note.

The plan follows SpaceX's $17 billion purchase of EchoStar spectrum licenses last fall, a deal that could be viewed as the foundation for a terrestrial mobile network.

"A direct-to-consumer mobile offering would give SpaceX access to a far larger market than satellite broadband alone, potentially reducing its reliance on telecoms partners that currently act as intermediaries between Starlink’s satellites and end users," FT wrote in the report.

Starlink has already signed a number of deals with carriers, notably with T-Mobile:

Pathways for Starlink:

TD Cowen analyst Gregory Williams told clients that if SpaceX/Starlink fail to secure an MVNO/retail mobile deal, then the next logical move would be to acquire T-Mobile.

Williams explained why:

Williams noted that any Starlink entry into the wireless industry is bearish for legacy operators.

He continued:

Related:

• SpaceX Builds A Regulatory Moat Around Its Starlink Empire

Starlink's true intention was revealed by Musk last fall: 

Speculation mounts...