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Now Corp raises stake in Now Telecom; eyes taking firm 'to the next level'

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<p>MANILA - Now Corp said Monday it has increased its stake in unit Now Telecom Co Inc to take it &quot;to the next level&quot; following its 25-year franchise renewal. </p><p>Now Corp increased its stake in Now Telecom to 24.23 percent from 19 percent, it said in a statement. Now Telecom&#x27;s franchise has been extended for another 25 years beginning in 2018, Now Corp said.</p><p>Now Telecom earlier introduced pre-5G broadband speed of up to 2 Gbps to its enterprise clients. The goal is to extend this service to consumer markets through fixed wireless access and cellular devices, it said.</p><p>Now Corp said the telecom is &quot;currently setting the stage&quot; for a public listing as well as its 5G rollout.</p><p>In December, Now Telecom signed a deal with Finnish tech giant Nokia for its 5G rollout. </p><p>&quot;We speak for Now Corp. owners that we must play a bigger part of the game plan,” Now Corp chairman Mel Velasco Velarde said.</p><p>“Now Telecom’s licenses and its evolving business plan, which is a work in progress with Nokia, would allow us to offer gigabit speed to both fixed and mobile cellular broadband subscribers,” Velarde added.</p><p>The company said it has also been undertaking other organizational and financial changes to prepare for future opportunities. </p><p>NOW Telecom previously <a href="https://news.abs-cbn.com/business/11/07/18/now-corp-holds-off-on-third-telco-bid">held off</a> its third telco bid as it questioned the selection process.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/21/20/now-telecom-eyes-public-listing-5g-rollout-as-ntc-grants-provisional-authority-to-4th-telco">NOW Telecom eyes public listing, 5G rollout as NTC grants provisional authority to &#x27;4th telco&#x27;</a></li>	<li><a href="https://news.abs-cbn.com/business/10/02/20/now-corp-taps-vietnams-viettel-for-ict-products-services-in-ph">NOW Corp taps Vietnam&#x27;s Viettel for ICT products, services in PH</a></li>	<li><a href="https://news.abs-cbn.com/business/12/02/20/now-inks-5g-rollout-deal-with-nokia">NOW inks 5G rollout deal with Nokia</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1643305" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Now Corp said Monday it has increased its stake in unit Now Telecom Co Inc to take it "to the next level" following its 25-year franchise renewal. </p>

Now Corp said Monday it has increased its stake in unit Now Telecom Co Inc to take it "to the next level" following its 25-year franchise renewal.