Globalstar to Get 10-Year Terrestrial Authorization in Mexico

MT Newswires Live11-14

Globalstar (GSAT) said Thursday it will receive a 10-year terrestrial authorization that will allow the expansion of terrestrial applications in Mexico.

The company said its Mexican unit, Mobile Satellite Services Mexico, has been notified by Mexico's Instituto Federal de Telecomunicaciones that it won the public auction regarding the Complementary Terrestrial Service of the Mobile Satellite Service in the frequencies 2483.5 to 2495 MHz in the country.

Globalstar said it will get the authorization after paying the bid amount to finish the regulatory process.

Globalstar shares were up 3.1% in recent trading.

Price: 1.81, Change: +0.05, Percent Change: +3.14

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