Sneaky rivals, Amazon nears deal for Globalstar to rival SpaceX’s Starlink

Amazon.com Inc (NASDAQ: AMZN) is in advanced talks to acquire satellite operator Globalstar Inc (NASDAQ: GSAT) in a bid to rival SpaceX’s Starlink, Bloomberg reported on Monday, citing people familiar with the matter.

A transaction could be announced as soon as Tuesday, Bloomberg reported.

The Bloomberg report follows a Financial Times report from earlier this month over Amazon nearing a deal for Globalstar, as the e-commerce giant seeks to build out its own low Earth orbit satellite business and compete with Starlink.

A major complicating factor in the deal is Apple Inc’s (NASDAQ: AAPL) 20% stake in Globalstar, which will require Amazon to negotiate directly with the iPhone maker. Apple invested $1.5 billion in Globalstar in 2024.