Amazon in discussions to acquire satellite group Globalstar, FT reports

Amazon (AMZN) is in discussions to acquire satellite telecommunications company Globalstar (GSAT) in a deal that would bolster the ecommerce giant’s efforts to establish its own low Earth orbit satellite business to compete with Elon Musk’s SpaceX and Starlink, with the two sides still negotiating over some of the complexities of a deal following lengthy talks, the Financial Times’ Ivan Levingston, Kieran Smith, James Fontanella-Khan, and Amelia Pollard report, citing people familiar with the matter. One complicating matter has been the fact that Apple (AAPL) owns a 20% interest in Globalstar, which has a market capitalization of about $9B, the authors note. No agreement has been finalized and talks could still shift or fall apart, the authors say.

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