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Amazon to Acquire Apple's Globalstar Stake in Satellite Deal
Amazon is acquiring Apple satellite provider Globalstar, and it has worked out a deal to take over Apple's stake in the satellite company. According to an FCC filing noticed by PCMag, Amazon is initiating a merger structure. It will create a new subsidiary called Grapefruit Acquisition Sub II to absorb Globalstar's operations, and then the new subsidiary will acquire Apple's equity.
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