Telesat up 3%, Selected to Provide Connectivity Services to Arab Satellite Communications Org
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Telesat (TSAT.TO) shares rose 3.3% after signing a term sheet with Arab Satellite Communications Organization (Arabsat) to provide Telesat Lightspeed connectivity services. This agreement builds on a 2024 Memorandum of Understanding and will integrate Telesat's low earth orbit services into Arabsat's satellite ecosystem, targeting enterprise, telecom, government, and mobility sectors. Definitive agreements are expected by December, with Telesat shares last at $24.50 on the Toronto Stock Exchange.
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