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00:02Shares of Globalstar rose more than 15% in extended trading following a report that Amazon
00:07is in talks to acquire the company, according to CNBC. The report said negotiations are ongoing
00:12and include deal complexities tied to Apple, which holds a 20% stake following a $1.5 billion
00:18investment in 2024. Amazon declined to comment, and Globalstar did not respond, according to CNBC.
00:23A deal could strengthen Amazon's satellite internet service, which has launched about
00:27200 satellites, and plans a constellation of roughly 7,700. Amazon asked the FCC for more
00:33time to meet a July 2026 launch deadline. The company is competing with SpaceX's Starlink,
00:38which has over 10,000 satellites and more than 9 million users.
00:41For all things money, visit Benzinga.com.
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