NOW Corp pursues expansion despite third telco bid loss

ABS-CBN News

Posted at Nov 12 2018 04:24 PM | Updated as of Nov 12 2018 05:41 PM

The National Telecommunications Commission opens documents for the third telco bidding on Nov. 07, 2018. Jonathan Cellona, ABS-CBN News/File

MANILA -- NOW Corp on Monday said it would expand its high-speed internet service to address the country's telecommunications "rut," after it lost out in its bid to become the country's third telco.

Regulators last week named Mislatel, a consortium that includes China Telecom and Davao City tycoon Dennis Uy as the potential challenger to Globe Telecom and PLDT Inc.

NOW said it expand its fiber air for fixed wireless broadband service and 4G LTE for wireless mobile, and satellite fiber optic network through partnerships with LGUs and local entrepreneurs.

Negotiations with foreign firms are beyond the new major telco player opportunity, NOW told the stock exchange.

NOW Corp confirmed that it has been negotiating with Viettel, Sumitomo Mitsui Banking Corp, Telus Corp, Mobitel, American Tower, Japan ICT Fund and the Telrad Networks.

"We continue to engage with the entities cited above for our existing businesses which span across telecoms, media and technology," the company said.

The firm opted not to submit its bid documents after its legal counsel advised that doing so might affect its case against the NTC.

NOW Corp and Converge ICT withdrew from the selection process while Sear Telecom, the consortium of Chavit Singson and Tier1, along with PT&T were disqualified.