Oct 30 (Reuters) - Globalstar ( GSAT ) is exploring a

potential sale and has held early discussions with Elon Musk's

SpaceX among other prospective buyers, Bloomberg News reported

on Thursday, citing people familiar with the matter

Shares of the company, which makes low-earth orbit (LEO)

satellites, soared 24% in afternoon trading.

SpaceX is one of the parties the company is speaking with,

though other bidders could still emerge, according to Bloomberg

News.

Globalstar ( GSAT ) is working with an investment bank to assist it

in the sale process, Bloomberg reported. Globalstar ( GSAT ) has not yet

made a final decision on pursuing a sale and could opt to remain

independent.

Apple ( AAPL ) will possibly have a say in Globalstar's ( GSAT )

future, according to the report.

Apple ( AAPL ) had invested up to $1.5 billion in Globalstar ( GSAT ) to fund

the expansion of its iPhone communication services last year.

Globalstar ( GSAT ) had also said it would allocate 85% of its network

capacity to Apple ( AAPL ).

Globalstar ( GSAT ), SpaceX and Apple ( AAPL ) did not immediately respond to

Reuters' requests for comment.

The Information had earlier reported that Globalstar Chair

James Monroe had told associates about potentially selling the

company for more than $10 billion.

(Reporting by Juby Babu in Mexico City; Editing by Anil

D'Silva)