NOW Telecom back out in bid to be the 3rd Telco
MANILA (ATRAS ABANTE SATIRE NEWS GROUP) – Last October 6, 2018 the final Terms of Reference is released which different bidders locally and foreign telco companies availed and be ready on the bidding this coming November 7, 2018. But unfortunately one sore bidder known as NOW Telecom sued the government because of insertions on the final Terms of Reference without consulting the public as they claim.
Mel Velarde the CEO of NOW Telecom on facebook disclosure claimed that the bidding process is tainted with money making scheme which makes it corruptible and unfair and asked President Rodrigo Duterte to just proceed and choose who should be the new major player on telecommunication landscape.This statement steered the stocks value of the company and hurt investors which led to gross bashing of the company on different Social Media Platforms, even calling them as sore bidder or bidder with no capability.
With horrendous amount of professional fee that NOW Telecom pay to their Attorneys to file the cases against National Telecommunications Commission and Department of Information and Communications Technology still the bidding process is not halted and will normally proceed on 7th of November, 2018. Which pushed NOW Telecom to just back out and call the bidding process as “Nothing Special”.
With NOW backing out from the race to be the New Major Player it is now down to 7 bidders as of October 25, 2018.