Globalstar shares increased by 25%: Talks with SpaceX continue.

Globalstar (NYSE:GSAT) shares rose by 25% on Thursday. This increase is based on a report from Bloomberg. According to the report, the satellite company is pursuing a potential sale and has held preliminary discussions with Elon Musk's SpaceX along with other potential buyers.

According to sources with knowledge of the matter, Globalstar is working with an investment bank to facilitate the process. SpaceX is involved in discussions with the company, while another buyer could also emerge. However, Globalstar may ultimately prefer to remain independent.

Apple (NASDAQ:AAPL) has a significant impact on Globalstar's future plans. The tech giant provides a service through Globalstar that allows iPhone users to send messages and reach emergency services outside cellular coverage. Last year, Apple invested approximately $1.5 billion in Globalstar's infrastructure and acquired a 20% stake in the company.