Telesat up 3%, Selected to Provide Connectivity Services to Arab Satellite Communications Org

Trading View
2025.05.14 14:50
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Telesat (TSAT.TO) shares rose 3.3% after signing a term sheet with Arab Satellite Communications Organization (Arabsat) to provide Telesat Lightspeed connectivity services. This agreement builds on a 2024 Memorandum of Understanding and will integrate Telesat's low earth orbit services into Arabsat's satellite ecosystem, targeting enterprise, telecom, government, and mobility sectors. Definitive agreements are expected by December, with Telesat shares last at $24.50 on the Toronto Stock Exchange.

Telesat (TSAT.TO. TSAT) was up 3.3% on last look after signing Wednesday a term sheet with Arab Satellite Communications Organization (Arabsat), a satellite service provider in the Arab world, to provide Telesat Lightspeed connectivity services.

Building on the Memorandum of Understanding signed in 2024, this agreement establishes the framework for Arabsat's integration of Telesat Lightspeed low earth orbit (LEO) services into its multi-orbit satellite ecosystem, ensuring broadband connectivity solutions tailored for enterprise, telecom, government, and mobility sectors.

The parties expect to conclude definitive agreements by December.

Telesat shares were last seen up $0.79, to $24.50, on the Toronto Stock Exchange.

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