Carrier Catch-Up: A Look At The Latest Buzz From The Telecom Industry
GlobalStar, FiberLight To Merge, Take Bigger Stake In CenturyLink
Satellite communications provider Globalstar unveiled plans to merge with telecom network provider FiberLight in a $1.65 billion deal that will combine satellite, wireless and fixed broadband assets.
Jay Monroe, GlobalStar's chairman and CEO, is spearheading the deal, which will also include investment firm Thermo Acquisitions. Monroe founded and is the controlling shareholder of Thermo Acquisitions, which backs FiberLight.
The new company also will own other assets in which Thermo Acquisitions already owns a stake, including 15.5 million shares of Monroe, La.-based telecom provider CenturyLink’s common stock, which are currently valued at $275 million.