In a bid to spark competition in the local telco industry, President Rodrigo Duterte has extended the legislative franchise of Now Telecom, Inc. to another 25 years.
In a statement, NOW Telecom said the President granted the company with a 25-year extension or until 2043 in the market as inked in the Republic Act No. 10972 which was signed for approval into law.
“With the said law, NOW Telecom, as a telecommunications company, now has privileges similar to those granted to existing dominant players in the industry,” it noted.
Under its franchise, NOW Telecom is granted a franchise to construct, establish, operate, and maintain mobile radio systems such as radio paging systems, cellular phone systems, personal communication network (PCN), and trunked radio systems.
It is an affiliate of NOW Corp.
Early this year, the group already showed a desire to bid for the slot as the new major telco player.
The government targets to make the new player operational in the first quarter of this year to provide better internet access to Filipinos and to break the so-called telco duopoly of PLDT and Globe Telecom.