The National Telecommunications Commission says it has not named a '4th telco player,' a tag claimed by NOW Telecom, whose provisional authority was recently extended.
Company Incorporated, stood by its statement that the latter is now the 4th telecommunications player in the Philippines, despite regulators saying there is no such thing.
"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 Corporation added. NOW Corporation opened at P2.68 on Monday. After its 4th telco announcement, it surged by 33%, closing at P3.58. The NTC set conditions for the PA, including additional capital infusion of at least P1.9 billion for the first two years, based on NOW's P6.3-billion capital expenditure program approved by the Securities and Exchange Commission.
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