No pronouncement NOW as the 4th telco, they only want to boost their stocks - Rio

 

NOW Corporation stands by its statement about its affiliate, NOW Telecom Company, Inc. (“NOW Telecom”), being the fourth telecommunications player. As clearly confirmed by NTC Deputy Commissioner Engr. Edgardo V. Cabarios himself in a phone message to BusinessWorld on Monday, NOW Telecom is the country’s fourth telco player. In addition, Mr. Cabarios confirmed that there are only four entities authorized by NTC to operate mobile networks or specifically having a cellular mobile telephone system (CMTS) license: PLDT group, Globe group, DITO, and NOW Telecom. There is nothing inconsistent with any fact or law in any of the statements contained in the press release of NOW Corporation on 21 September 2020.

The surge in the stock price of NOW is a clear indication of the public’s response in welcoming an emerging major telco player. NOW will be investigating the source of inaccurate and malicious statements to the public that aim to degrade the honest efforts of the Company and its affiliate to provide alternative telecommunication services.

“THE National Telecommunications Commission (NTC) has not identified a ‘fourth’ major telecommunications player, an official said Monday.

‘In terms of market capitalization, there are three major players such as PLDT group, Globe group, and DITO. There are other players, namely: Converge, InfiniVAN, NOW Telecom, and many others. This list is not in any hierarchy,’ NTC Deputy Commissioner Edgardo V. Cabarios told BusinessWorld in a phone message on Monday, when asked to comment on NOW Corp.’s claim that its affiliate, NOW Telecom Co., Inc., is the country’s fourth telco player.

Mr. Cabarios added there are four entities that have been authorized to operate mobile networks: PLDT group, Globe group, DITO, and NOW Telecom.

In a statement e-mailed to reporters at the weekend, NOW Telecom said the NTC had ‘extended’ its provisional authority to install, operate, and maintain a nationwide mobile telecommunications system.

‘As the country’s fourth telco, NOW Telecom, an affiliate of publicly listed telecommunications, media, and technology firm NOW Corp., is currently setting the stage for its public listing as well as its 5G or fifth generation network rollout,’ it added.

But industry observer and expert Eliseo M. Rio, Jr., a former undersecretary at the Department of Information and Communications Technology (DICT), said he does not know of any NTC nor DICT pronouncements declaring NOW as the fourth telco.

‘They have been saying that… to boost their stocks. Today, their stocks dramatically shoot up,’ he said in a phone message.

Source: PSE Edge

Source: Peso Economics