“We are confident to get the 4th telco slot,” says NOW’s Mel Velarde

“NOW Corp is confident to get the 4th telco slot,” said Mel Velarde.

NOW Corp said its telecommunications unit signed a deal with a Singapore-based firm for a nationwide fiber rollout as part of its “pivot” towards 5G.

NOW signed a memorandum of understanding with Hyalroute Group and its local unit Philippine Fiber Optic Cable Network Inc (PFOCN), the company told the stock exchange.

NOW has secured a 25-year Congressional Franchise in early 2018.

“NOW Telecom intends to intensify its national roll-out of telecommunications operations to provide a more competitive telecommunications industry landscape,” the statement said.

NOW said its new partner would help its telco unit launch “consumer-friendly 5G offerings.” 

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