AST SpaceMobile (ASTS) received a letter of intent from European mobile network operator partners to explore a potential joint bid for mobile satellite services, the company said Monday.
Deutsche Telekom, Orange, Telefonica, and Vodafone signed the letter of intent, the company said.
The possible collaboration is meant to allow the telecommunications operators to deliver space-based cellular broadband through existing mobile services, the company said.
Shares of the company were up 4.1% in recent premarket trading.
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