Amazon to Take Over Apple's 20% Stake in Globalstar as Part of Acquisition
Amazon has revealed that it’s taking over Apple’s 20% stake in Globalstar as part of its $11.6 billion acquisition of the satellite communications provider. The details are outlined in an Amazon filing with the Federal Communications Commission, urging the US regulator to sign off on the acquisition as the e-commerce giant tries to compete with SpaceX in satellite connectivity. Amazon is creating a subsidiary, “Grapefruit Acquisition Sub II,” to conduct the merger. The subsidiary will also acqui...
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