Globalstar was originally formed as a JV between Qualcomm and Loral in 1991. Qualcomm wrote down most of its investment in the satellite network owner a decade later, shortly before Globalstar filed for Chap. 11. Globalstar finished restructuring in 2004.
Separately, Qualcomm has denied a Chinese media report claiming it has financial ties with Zhang Xinzhu, an antitrust expert who was just removed from a government advisory post. Qualcomm says it simply paid a consultancy employing Xinzhu to produce an economic analysis for regulators.
Qualcomm is dealing with both a Chinese antitrust probe and an SEC bribery probe. The company stated last month it thinks some Chinese licensees are under-reporting their 3G/4G device sales, and that some might be holding off on getting licenses while the antitrust probe continues.