Amazon eyes $9 billion Globalstar deal to rival SpaceX’s Starlink: Report
Amazon is in talks to buy satellite telecom group Globalstar as it ramps up efforts to build its own low-earth-orbit satellite business to rival SpaceX’s Starlink, the Financial Times reported on Wednesday, citing people familiar with the matter.
Globalstar’s shares, which have more than doubled in market value over the past year, surged 24% to $85 in extended trading following the report. The company had a market cap of $8.81 billion as of last close.
