Now Corp.

Wireless broadband firm Now Telecom is slated to become country’s fourth telecom player after the National Telecommunications Commission issued last Sept. 14 the extension of its provisional authority (PA) to operate a mobile telecommunications system.

Now Corp. Telecom has signed a memorandum of understanding with Aboitiz InfraCapital (AIC) and Frontier Tower Associates (FTA) to discuss and negotiate the lease of build-to-suit sites, towers, and passive telecommunications infrastructure and facilities.

SK Telecom, which launched the world’s first commercial 5G, is transferring Korea’s 5G technologies to the Philippines and will also export 5G B2B or business-to-business solutions to the country via Now Corp.

UnionBank signed an MOU with Now Corp. and affiliate Now Telecom to utilize and promote the use of new generation telecommunication networks, including 5G wireless technology, in support of the bank’s digital transformation roadmap.

The first activated site with a 1Gbps broadband connectivity via fixed wireless is UnionBank’s corporate headquarters in Ortigas Center, Pasig City.

The SEC also gave the go-signal for the reduction in its authorized capital via a lowering of the par value per share.

Now Corp. president and CEO Mel Velarde said they are aiming to inject renewed energy to the failed MVNO attempts by other telcos and will seek to correct the shortcomings.

Now Corp. said it is planning to file charges against Department of Information and Communication and Technology (DICT) acting secretary Eliseo Rio Jr. for his alleged ?reckless? statement that caused the free fall of the company?s shares.