Globalstar Short Seller Asks FCC to Deny Airwaves Request
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Globalstar Inc.’s leading critic, which stands to profit from a drop in the stock price, is now urging U.S. regulators to reject the company’s request to offer mobile service over airwaves reserved for satellite use.
In its latest attack on Globalstar, Kerrisdale Capital Management LLC filed a letter with the Federal Communications Commission urging the agency to deny a request to change the rules. The investment-management firm said Globalstar is looking to profit from exclusive control of the airwaves, which won’t relieve Wi-Fi congestion as the company has claimed.