NOW Telecom is stepping into the competition to venture into 5G fixed wireless expansion in Metro Manila, investing $713 million over the next five years and appointing Unicapital Inc. as its financial advisor. The latter would help NOW Telecom in preparing its planned corporate restructuring and fundraising activities, which boosts its capabilities in 5G mobile services.
“We are moving forward with the corporate restructuring of NOW Telecom to take it to the next level,” confirmed Mel Velarde, founder and chief executive officer of the NOW Group of Companies. NOW Telecom would be deploying its 5G FWA network in the National Capital Region (NCR) that offers a broadband plan of up to 10 Gigabit per second (Gbps) service.
NOW Telecom signed agreements with South Korean telco SK Telecom to design its 5G network. The company added it has the needed frequencies to provide 5G services. 5G is the latest generation of mobile technology that promises ultra-fast Internet speeds and low lag times. It’s capable of powering new innovations like connected cities, automated manufacturing, and driverless cars.