Telesat Stock Gains 18% On Strategic Partnership With Orange

(RTTNews) - Telesat Corporation (TSAT) is trading at $21.67, up 20.90 percent or $3.62, on Tuesday's trading, after announcing a strategic commercial partnership with Orange to expand satellite connectivity options.

The stock opened at $17.55 and has traded between $17.35 and $22.00 today, compared to a previous close of $17.30. The current volume is 268,638 shares, significantly higher than the average volume of 59,150. The stock's 52-week range is $6.93 to $23.62.

Under the agreement, Telesat will host a Lightspeed Landing Station at Orange's teleport in Bercenay-en-Othe, France, and leverage Orange's ground segment connectivity in Paris. Orange also committed to purchasing Telesat Lightspeed Low Earth Orbit service to enhance its global offerings.