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Globalstar jumps 17% on report of sale process

May 12, 2017 12:55 PM ETGlobalstar, Inc. (GSAT) StockGSATBy: Stephen Alpher, SA News Editor65 Comments
  • The company is working with financial advisers on a potential sale, according to Bloomberg's Alex Sherman. Potential buyers would naturally be major wireless and cable companies.
  • The move comes following the big bidding war for Straight Path Communications (won this week by Verizon). Globalstar recently won U.S. approval to use its satellite airwaves for mobile broadband service.
  • GSAT +17.3%
  • Previously: WSJ: Verizon wins Straight Path sweepstakes with $3.1B buyout deal (May 10)

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