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Update: Market Chatter: Amazon in Advanced Talks to Acquire Globalstar; Globalstar Shares Rise 15% Pre-Bell

-- (Updates with the most recent stock move in the headline and last paragraph)

Amazon.com (AMZN) is in advanced discussions to acquire satellite operator Globalstar (GSAT), Bloomberg reported Tuesday, citing unnamed people familiar with the matter.

The sources told the news outlet that a deal could be announced as soon as Tuesday, though negotiations are ongoing and may still fall through.

The potential acquisition would support Amazon's push to build out its low-Earth orbit satellite network, known as Amazon Leo, which is being developed to deliver broadband internet to underserved areas, according to Bloomberg.

Amazon and Globalstar did not immediately respond to' request for comment.

Globalstar shares rose over 15% in premarket activity Tuesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $84.00, Change: $+11.11, Percent Change: +15.24%

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