Globalstar, Inc. (NYSE: GSAT) stock is up more than 25% Monday after the mobile satellite service provider received news from the Federal Communications Commission (FCC) regarding a the usage of satellite signal frequencies to distribute its mobile broadband services.
On December 16th the company has announced that, “Globalstar’s Revised Proposal provides significant protections to adjacent operations, expands the nation’s broadband spectrum supply and will improve wireless broadband service for consumers in the United States.”
Originally the FCC has rejected Globalstar’s proposal, claiming that the company will get an unfair competitive advantage in the sector. Other companies in the filed claimed that Globalstar’s will interfere with the service of other mobile devices, among them are Microsoft Corp. (NASDAQ: MSFT) and Alphabet Inc. (NASDAQ: GOOGL). Globalstar then filed a revised proposal on November 9, which was rewritten to address the concerns mentioned previously.
In a press release Globalstar claimed, "Globalstar appreciates the recent favorable filings by interested parties and believes its Revised Proposal addresses all reasonable interference and policy-based concerns expressed in this lengthy proceeding. Globalstar's Revised Proposal provides significant protections to adjacent operations, expands the nation's broadband spectrum supply and will improve wireless broadband service for consumers in the United States."