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Short Take: Lockheed invests in Indonesian satellite group

PT Pasifik Satelit Nusantara adds Lockheed Martin Global Telecommunications to the group of investors in Asia Cellular Satellite. Lockheed Martin will take a 30 percent stake in the group, a joint venture of PSN, Thailand's Jasmine International, and the Philippines Long Distance Telephone company. The deal will speed Asia Cellular's push to market, expected this autumn, as well as finance the construction of a second satellite for back-up purposes, according to a Reuters report.

PT Pasifik Satelit Nusantara adds Lockheed Martin Global Telecommunications to the group of investors in Asia Cellular Satellite. Lockheed Martin will take a 30 percent stake in the group, a joint venture of PSN, Thailand's Jasmine International, and the Philippines Long Distance Telephone company. The deal will speed Asia Cellular's push to market, expected this autumn, as well as finance the construction of a second satellite for back-up purposes, according to a Reuters report.