MANILA — NOW Corp on Friday said its unit NOW Telecom and SBA Towers Philippines signed a memorandum of understanding as part of its telco expansion plans.
The parties are in "discussion and negotiating" the lease of build-to-suit sites, towers and passive telecommunications infrastructure and facilities, NOW Corp said in a disclosure to the stock exchange.
"This is part of the roadmap of the NOW Group of providing 5G or the fifth-generation wireless network technology which will allow the delivery of up to 20 gigabit per second speed to enterprises and homes," the statement said.
"It is an integral policy in NOW Group's roadmap to partner with trusted vendors that are part of the Clean Network," it added.
SBA Towers Philippines Inc is a subsidiary of the NASDQ-listed SBA Communications Corp.