<div id="readability-page-1"><div id="ArticleBody-InlineImage-102187560"><div><div><p>Globalstar Chairman and CEO Jay Monroe rings the opening bell at the New York Stock Exchange, April 21, 2014.</p><p>Brendan McDermid | Reuters</p></div></div></div><div><p>Shares of <span id="RegularArticle-QuoteInBody-1">Globalstar<span><span id="-WatchlistDropdown"></span></span></span> jumped more than 15% in extended trading on Wednesday after the Financial Times reported <span id="RegularArticle-QuoteInBody-3">Amazon<span><span id="-WatchlistDropdown"></span></span></span> is in talks to acquire the satellite communications company, citing people familiar with the matter. </p><p>The companies were still negotiating over some of the complexities of a deal following lengthy talks, the Times reported. One of the complicating factors is that <span id="RegularArticle-QuoteInBody-4">Apple<span><span id="-WatchlistDropdown"></span></span></span> took a 20% stake in Globalstar in 2024, according to the FT, as part of a $1.5 billion investment to boost the company's constellation and ground infrastructure. </p><p>Amazon declined to comment. Representatives from Globalstar didn't immediately respond to a request for comment.</p><p>A deal with Globalstar could bolster Amazon Leo, the company's nascent internet-from-space service. Amazon has launched about 200 satellites in low Earth orbit since last April, and it's aiming to roll out commercial service later this year. </p><p>The company intends to build out a constellation of roughly 7,700 satellites, though it has faced delays in its satellite deployment milestones. Amazon in January asked the Federal Communications Commission for more time to meet a deadline that requires it to launch roughly 1,600 satellites by July 2026. </p><p>Amazon is vying to compete with SpaceX's Starlink, which has a significant head start with more than 10,000 satellites in orbit and over 9 million users.  </p><p>Bloomberg reported last October that Globalstar was exploring a potential sale and held early discussions with Elon Musk's SpaceX. </p></div><div><p>Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.</p></div></div>

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<p>Globalstar's stock surged over 15% after reports emerged that Amazon is considering acquiring the satellite communications company. This acquisition could enhance Amazon's internet-from-space service, Amazon Leo, which currently has around 200 satellites in orbit. Negotiations are ongoing, complicated by Apple's 20% stake in Globalstar. Amazon aims to compete with SpaceX's Starlink, which has a significant lead in satellite deployment and user base.</p>

- Globalstar shares surged over 15% following reports of Amazon negotiating to acquire the satellite communications company.  
- The discussions are complicated by Apple's 20% stake in Globalstar, acquired through a $1.5 billion investment to enhance its infrastructure.  
- A potential acquisition could strengthen Amazon's satellite internet service, which currently competes with SpaceX's Starlink.

Globalstar stock surges 15% on report Amazon is weighing an acquisition