Lawmakers Leery of Satellite Companies’ 5G Airwaves Plan (1)

The Federal Communications Commission will soon decide whether to side with foreign satellite companies, including Intelsat S.A. and SES S.A., and allow them to sell their rights to a swath of public airwaves to speed the deployment of 5G technology.

Such a sale to the nation’s biggest wireless providers could bring in as much as $40 billion—and now Congress is threatening to step in and prevent the FCC from allowing the satellite companies to pocket the money.

Several influential lawmakers have fired warning shots at the agency in recent weeks, casting doubt over whether they’ll sit idly by if the ...