MANILA – NOW Corp on Tuesday said its subsidiary NOW Telecom would venture into 5G telecommunications, as it announced its new president.
Rodolfo Pantoja, former CEO of Indonesia's Smartfren telco under PT Sinar Mas Komunikasi Teknologi, was elected president and deputy CEO for finance by the board of directors, NOW said in a disclosure to the stock exchange.
NOW “would also like to confirm that NOW Telecom is venturing into 5G telecommunications,” the statement said.
A planned share-swap deal will also increase NOW Corp’s ownership in NOW Telecom to 30 percent, to satisfy its congressional franchise requirement, it said.
NOW Telecom in November dropped its bid to become the country’s third telecommunication player after questioning the selection process. The slot went to Mislatel, a joint venture between China Telecom and businessman Dennis Uy.