Under the NTC order, the PA is subject to the infusion of additional capital of at least P1.9 billion based from the first two years capital expenditure of P6.3 billion in the submitted rollout plan and approval by the Securities and Exchange Commission of the increase in the authorized and paid-up capital, according to the telco unit.
In a statement Monday, NOW Telecom said the NTC also required to accelerate the installation of its broadband data service in suburban and rural areas and that in each phase of project implementation, it shall directly comply with the 70:30 ratio of urban to suburban and rural network rollout coverage.
The NTC also prohibited the telecom from sharing or co-using its frequency to either PLDT or Smart Communications, Globe Telecom, and DITO Telecommunity Corporation or any other entity without first securing approval from the commission. According to NOW Telecom, the NTC also said that based on the company’s financial position, its debt-to-equity ratio complies with the 70-30 requirement of the commission.