TAMPA, Fla. — Saudi telecoms giant stc Group has signed a 10-year agreement that includes a $175 million prepayment commitment to use AST SpaceMobile’s planned space-based cellular broadband network, the Texas-based venture announced Oct. 29.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...