Amazon in Talks to Buy $9 Billion Satellite Group Globalstar, FT Reports
Reuters04-02 07:16
Amazon is in talks to acquire satellite telecommunications group Globalstar, the Financial Times reported on Wednesday, citing people familiar with the matter.
Globalstar's shares rose 15.3% to $79 in extended trading. The company's market cap was $8.81 billion, as of last close.
Both sides were still negotiating some of the complexities of a deal after lengthy talks, according to the report.
One complicating factor has been Apple's ownership of a 20% stake in Globalstar, necessitating negotiations between Amazon and Apple, the report said.
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