Philippine Long Distance Telephone Co. (PLDT) is investing in Bermuda-based ProtoStar Ltd. (ProtoStar) to expand the presence of its satellite subsidiary Mabuhay Satellite Corp. in Asia.

PLDT has agreed to swap “certain Mabuhay assets for an equity position in ProtoStar,” expand the use of Mabuhay’s Subic Space Center for operation and control of satellites, and lease C-band transponder capacity on ProtoStar’s recently launched ProtoStar I satellite. PLDT also reserved the option “to make further investments in ProtoStar.”

“The numbers pertaining to the equity position are not yet definite,” PLDT spokesperson Ramon Isberto said in a phone interview. “What we can say is that the arrangement benefits PLDT’s satellite business because right now Mabuhay is a single-satellite operation. Through the deal with ProtoStar, PLDT will have access to a multi-satellite network.”

ProtoStar provides satellite solutions for broadband, direct-to-home television and GSM operators.

Earlier, PLDT said in a statement that ProtoStar’s satellite, Protostar I, which was launched July 7, would support the rapidly expanding Direct-to-Home television markets of India and IndoChina. The satellite’s C-band transponders will serve the rapidly growing cellular phone markets of Southeast Asia. ProtoStar plans to develop and launch several other satellites in the coming years to serve growing demand. With editing by INQUIRER.net