According to a news article in Bloomberg, Globalstar Inc., which won US approval to use their satellite airwaves for mobile broadband service, is working with financial advisers on a potential sale, stated by people familiar with the matter.
As stated in the article, Globalstar shares climbed 15.2 percent to $2.20 in New York at 1:35 p.m., giving the company a market value of about $2.5 billion.
Bloomberg's news story stated that Globalstar could attract interest from major wireless and cable companies, one of the people said, asking not to be identified as the details aren’t public. Deliberations are at an early stage and there is no certainty a deal will be reached, the people said. Chief Executive Jay Monroe III said in an interview in January that he would probably lease his spectrum, adding that the company “is considering all strategic options.”
To read the entire article, please access this direct link to the Bloomberg article...