MANILA – Now Corp said Monday it has increased its stake in unit Now Telecom Co Inc to take it “to the next level” following its 25-year franchise renewal.
Now Corp increased its stake in Now Telecom to 24.23 percent from 19 percent, it said in a statement. Now Telecom’s franchise has been extended for another 25 years beginning in 2018, Now Corp said.
Now Telecom earlier introduced pre-5G broadband speed of up to 2 Gbps to its enterprise clients. The goal is to extend this service to consumer markets through fixed wireless access and cellular devices, it said.
Now Corp said the telecom is “currently setting the stage” for a public listing as well as its 5G rollout.
In December, Now Telecom signed a deal with Finnish tech giant Nokia for its 5G rollout.
“We speak for Now Corp. owners that we must play a bigger part of the game plan,” Now Corp chairman Mel Velasco Velarde said.
“Now Telecom’s licenses and its evolving business plan, which is a work in progress with Nokia, would allow us to offer gigabit speed to both fixed and mobile cellular broadband subscribers,” Velarde added.
The company said it has also been undertaking other organizational and financial changes to prepare for future opportunities.
NOW Telecom previously held off its third telco bid as it questioned the selection process.
Source: News ABS-CBN
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The addition of NOW Network to our hospital operation has benefited our patients in more ways than we expected. With most hospital records, lab results and medical care documentation digitized, we were able to improve our speed and efficiency. Our patients are also provided broadband access via wi-fi hotspots so they can receive the emotional support they need by being connected with their loved ones 24/7 through video calls and social media.
