Verizon Communications Inc. is in discussions with EchoStar Corp. about purchasing some of its wireless spectrum, according to people familiar with the matter.

The talks involve EchoStar’s AWS-3 licenses, valuable for carrying 5G wireless signals, said the people, who asked to not be identified because the discussions are private.

If finalized, the largest US wireless carrier would join AT&T Inc. and SpaceX in buying pieces of the airwaves from Charlie Ergen’s satellite-TV and telecom company. EchoStar began selling some of its assets last month to resolve a Federal Communications Commission probe into whether the company was moving fast enough in rolling out wireless service.

An EchoStar regulatory filing lists a “carrying amount” of $9.8 billion for the AWS-3 spectrum. Licenses recently purchased by AT&T and SpaceX sold for well over their carrying values, although that would not necessarily be the case with Verizon, one of the people said.

EchoStar shares jumped as much as 15% in extended trading after Bloomberg reported on the talks.

Another portion of the AWS-3 band is set to be auctioned off by the federal government next year.

In an interview last month, EchoStar Chief Executive Officer Hamid Akhavan said the company would consider parting with additional wireless spectrum, including its AWS-3 licenses. That’s because the company no longer plans to build a comprehensive network to rival the largest industry players.

“We will find proper homes for those pieces of the spectrum in time,” Akhavan said.

After acquiring large swaths of wireless spectrum in an attempt to build a fourth major carrier in the US, EchoStar now plans to offer its Boost Mobile phone service using a hybrid model that will rely partly on AT&T’s network.

(Updates with trading in fifth paragraph.)

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