10:50 AM EDT, 05/14/2025 (MT Newswires) -- Telesat ( 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 ( TSAT ) shares were last seen up $0.79, to $24.50, on the Toronto Stock Exchange.

Price: 24.50, Change: +0.79, Percent Change: +3.33