Amazon in talks to buy $9bn satellite telecoms group

April 02, 2026 / 2:19 PM

Sharjah24 - AFP: Amazon is reportedly in discussions to acquire US satellite telecommunications company Globalstar, valued at around $9 billion, as part of efforts to strengthen its position against Elon Musk’s Starlink, according to a Financial Times report on Thursday.

Citing sources familiar with the matter, the report said both companies are working through complex aspects of a potential acquisition deal. One key complication is Apple’s 20 percent stake in Globalstar, requiring parallel negotiations between Amazon and Apple.

The report noted that no agreement has been finalised and talks could still collapse. Amazon, Globalstar, and Apple have not commented on the matter.

Growing competition in satellite internet

The move comes as SpaceX, which operates the Starlink satellite internet service, filed confidentially for what could become the largest public stock offering in history. Starlink currently operates more than 10,000 satellites providing global connectivity.

Amazon, founded by Jeff Bezos, is developing a competing network known as Amazon Leo, with more than 200 satellites already in orbit. Globalstar, meanwhile, operates a smaller low Earth orbit satellite constellation.

Market activity and previous reports

Globalstar’s share price has surged by nearly 230 percent over the past year. In October, Bloomberg reported that the company was exploring a potential sale with several buyers, including SpaceX.

A source confirmed that SpaceX has filed confidentially for an IPO, potentially valuing the company at $75 billion or more, with a possible listing by July. SpaceX has not commented on the reports.