PLDT group wins RP satellite launch race
PLDT group wins RP satellite launch race
MANILA (AFP): A group led by the Philippine Long Distance
Telephone Co. (PLDT) has moved closer to launching the
Philippines' first satellite after winning support of members of
a rival consortium, officials said yesterday.
Members of the government-backed Agila (Eagle) consortium have
agreed to join individually the Mabuhay Philippines Satellite
Corp. led by PLDT, said PLDT vice-president Cesar Reyes.
The US$200-million satellite will provide domestic and
regional telecommunications services.
PLDT holds 51 percent equity in the satellite, which also
includes Indonesia's PT Telkom and PT Pacific Satelit Nusantra,
China's Everbright Group Ltd., and three other local
telecommunications firms.
Proposals of three US-based satellite launchers are being
reviewed, Reyes said, but a well-placed government source
commented that the new local partners may present proposals from
European concerns Arianespace and Aerospatiale.
The breakaways from Agila -- which had comprised 11 new
players in the Philippines' telecommunications industry -- would
have an aggregate 30 percent stake in the Mabuhay satellite,
Reyes told AFP.
It was not immediately clear how many Agila members have been
won over to PLDT's side.
"This means it's full speed ahead on plans to launch the
satellite by 1996," Reyes said.
The government source, who asked not to be named, said Manila
"supports" the "marriage" of the two groups, and that
Transportation and Communications Secretary Jesus Garcia had
asked the PLDT group to "be open" to the requests of the new
firms.
PLDT was originally an Agila member, but pulled out in August
and decided to launch its own satellite, leading to fears that
the rivalry would delay the 1996 launch deadline set by President
Fidel Ramos.
The two groups have been negotiating since August.
Several issues have yet to be negotiated, among them the
pricing of shares, Reyes said.
The PLDT group offered 202 pesos ($8.4) per share to the firms
wishing to join. The firms reacted positively to the offer, Reyes
said.