Owned by the Velarde family, NOW Telecom Company Inc,. has been granted by the National Telecommunication Commission, last September 14, an extension of its provisional authority that will allow them to install, operate, and maintain a nationwide mobile telecommunications system.
This will allow the company to put up 4G LTE or even 5G services, and not just limited to 3G.
The provisional authority comes with a couple of conditions. One of them is the infusion of at least an additional capital of Php1.9 billion in the first two years. They are also required to accelerate the installation of broadband data services in rural and suburban areas.
Moreover, the NTC prohibits NOW Telecom to share or co-use its frequency with other players
The NTC announced that NOW Telecom’s financial position complies with its requirements.
As a result, NOW Telecom is now preparing for a public listing and rollout of its 5G network.