Globalstar Rallies on Report That Amazon Is in Buyout Talks (2)

Globalstar Inc. shares rose in pre-market trading after a Financial Times report that Amazon.com Inc. is in talks to acquire the satellite provider.

The deal would bolster Amazon’s effort to build its own satellite operation, the newspaper reported, citing unidentified people with knowledge of the discussions. The two sides remain in negotiations over some of the transaction’s complexity, the newspaper said.

Bloomberg News reported last year that Globalstar was exploring a potential sale and had early talks with Elon Musk’s SpaceX, among other potential suitors.

Read More: Globalstar Is Said to Draw SpaceX Interest in Sales Process

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