PLDT, Mabuhay Invest in ProtoStar
[Satellite Today 09-17-08] Philippine Long Distance Telephone Co. (PLDT) and subsidiary Mabuhay Satellite Corp. have agreed to provide some Mabuhay assets to ProtoStar Ltd. in exchange for a stake in the satellite operator, the companies announced Sept. 17.
ProtoStar will have expanded use of Mabuhay’s Subic Space Center for the operation and control of satellites, and PLDT will have the option to make further investments in ProtoStar and an agreement to lease C-band transponder capacity on the ProtoStar 1 satellite.
The agreements are intended to enhance ProtoStar’s pan-Asian reach while extending Mabuhay’s presence in the region. ProtoStar 1 was launched in July, while ProtoStar 2 is scheduled for launch in early 2009. Mubahay’s Agila2 satellite has been operating since 1997.
“PLDT and Mabuhay’s collaboration with ProtoStar will enable PLDT to enjoy full diversity and protection for its satellite needs as ProtoStar continues with its satellite fleet expansion plans,” PLDT President and CEO and Mabuhay Chairman Napoleon Nazareno, said in a statement. “The PLDT group uses significant satellite capacity for its GSM backhaul requirements for its rural cell sites, and this diversification will add to the robustness of the PLDT Group’s network.”