PLDT increases satellite stake offer<\/p>\n
MANILA (AFP): A consortium led by the Philippines' dominant
\ncarrier, along with its Indonesian and Chinese partners, has
\noffered rival telecommunications firms an increased stake in a
\nsatellite it plans to launch in 1996, an official said yesterday.<\/p>\n
Philippine Long Distance Telephone Co. (PLDT) and Indonesian
\npartners PT Telkom and Pacific Satelit Nusantra and China's
\nEverbright Group Ltd. have offered \"a sizable increase\" to the
\nAgila consortium, said Communications Undersecretary Josefina
\nLichauco.<\/p>\n
A report from the official Philippine News Agency (PNA) said
\nPLDT upped its initial seven percent offer to Agila to 30 percent
\nequity.<\/p>\n
The Agila consortium, which also includes PLDT, had earlier
\nplanned to launch the country's first satellite by December 1996
\nwith the government's blessing, but PLDT said it formed another
\nconsortium because the Agila group would not be able to
\nimmediately secure the orbital slots needed for the launch.<\/p>\n
Over the past few weeks, the two consortia have been engaged
\nin a series of meetings to resolve the rival bids.<\/p>\n
Agila has charged that the PLDT-led group, known as Consortium
\nB would \"compete\" with its satellite.<\/p>\n
PLDT however, is asking Agila for US$26.2 million as \"finder's
\nfee\" to compensate its efforts, and an additional $2.6 million to
\nbe paid to the satellite's major holders, the PNA report said.<\/p>\n
\"Whether that is palatable to the other group, it's for the
\nmembers (of Agila) to discuss,\" Lichauco said.<\/p>\n
She added the final equity divisions still had to be worked
\nout.<\/p>\n
\"Our responsibility is making sure the two consortia act as
\none team,\" Lichauco said, upholding the government's stand that
\nthe Philippines launch only one satellite, considering the
\ncompetition from other birds in the Asia-Pacific and global
\nmarkets.<\/p>",
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"sponsor": "Okusi Associates",
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