The Age
·general
·3 hours ago
Amazon’s $16.3 billion deal amps up rivalry with Elon Musk
Amazon.com announced a $16.3 billion acquisition of Globalstar on Tuesday, intensifying competition with Elon Musk’s Starlink in satellite communications. The deal, expected to close in 2027, offers Globalstar shareholders a choice between cash and stock, representing a 117 percent premium over previous share values. Amazon's investment aims to establish direct-to-device satellite service by 2028.
Summary by Glance · The Age
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