Now Corp. inks deal covering TransCo’s fiber optic assets

Now Corp. signed on Thursday an agreement covering the fiber optic assets of state-run National Transmission Corp. for establishing a national broadband network.

In a regulatory filing submitted by Now corporate secretary Angeline Macasaet, the company said that the signatories to a memorandum of understanding (MOU) include TransCo and Now Telecom Co. Inc.

“The MOU enables all parties to collaborate the potential use of TransCo’s existing fiber and microwave assets nationwide of use and access in certain fiber optic cores, vacant lots, tower spaces, and related facilities currently being operated on by National Grid Corp. of the Philippines (NGCP) and owned by TransCo for the purpose of building a nationwide fixed broadband link,” Now Corp. said.

Now Corp. is among the local companies interested in forming a consortium for the third telco player and competing with incumbents PLDT Inc. and Globe Telecom Inc.

“NOW is determined to build an independent nationwide backbone to cover the entire country and we are seriously looking on the viability of collaborating with TransCo to achieve this end,” the company said.

“We now have a government committed to exhaust all means to solve the digital divide,” said Thomas Aquino, chairman of NOW Corporation, who signed the MOU together with Melvin Matibag, president and CEO of Transco.

In March, Philippine Telegraph and Telephone Corp. (PT&T) also signed an agreement with TransCo for the potential use of dark fiber that sits on country’s power transmission network.

On June 8, the Department of Information and Communication Technology signed a tripartite agreement with the NGCP and TransCo covering the unused fiber assets for the National Broadband Plan.

“With a newly renewed 25-year franchise, NOW Corp. will co-lead in the unfolding of the full transformation of the digital Filipino, in scale and in scope, the country has not seen before.” says Mel Velarde, NOW Corp. president and CEO. —VDS, GMA News