MANILA -- Now Corporation affiliate Now Telecom is planning to offer fifth generation (5G) technology services in the country in competition with telco giants PLDT Inc. and Globe Telecom.
This as its board recently approved the adoption of 5G technology for enterprises and homes providing speeds of up to 20 gigabits per second.
“Now Corporation would like to confirm that Now Telecom is venturing into 5G telecommunications,” the company said in a stock exchange disclosure.
This development comes as PLDT and Globe prepares for the deployment of their 5G services within this year.
The board of directors of Now Telecom elected Rodolfo Pantoja, former CEO of Smartfren, an Indonesian Telecommunications firm under the PT Sinar Mas Komunikasi Teknologi banner, as President and deputy Chief Executive Officer for Finance.
It likewise approved an 11 percent share swap with Now Corporation which will increase the company’s share to 30 percent.
“This will satisfy the congressional franchise requirement for Now Telecom to have the public own at least 30% of the company,” said Now Telecom. (PR)
