Globalstar Soars On Amazon Buyout Report Amid Satellite Constellation Race [zero hedge]
Apple Inc. (AAPL)
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Source: zero hedge
Globalstar Soars On Amazon Buyout Report Amid Satellite Constellation Race Globalstar shares surged 12% in premarket trading in New York... ...marking their biggest jump in nearly five months, after the Financial Times reported overnight that Amazon is in talks to acquire the satellite operator, a move that would certainly intensify the race to build satellite constellations. The FT cited people familiar with the Amazon-Globalstar talks and said both sides are still negotiating over "some of the complexities," including the fact that Apple owns a 20% stake in the satellite communications company, which operates 24 satellites in low Earth orbit, arranged in a Walker-24 configuration, and sells services for emergency messaging, asset tracking, remote voice/data links, and IoT connectivity in places where cell coverage is weak or nonexistent. Globalstar powers Apple's emergency satellite feature on iPhones, but that system is far more limited than the high-speed broadband network offered
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