Connect with us

International Circuit

Now Telecom Turns To CA To Invalidate 3rd Telco Terms of Reference

Now Telecom Company is no longer bidding for the third telco slot, but is appealing its case before the Court of Appeals to stop the government from enforcing certain provisions of the terms of reference for the new major player in the telecommunications industry.

In an interview with reporters on Wednesday, Now investor relations officer Miguel Lopez said the telco sought the appellate court’s help in reversing the ruling of the Manila Regional Trial Court (RTC) Branch 42.

“We are withdrawing from the new major player bidding due to our case with the Natoinal Telecommunications Commission. I think you’ve heard of the case yesterday, our case for the injunction has been denied by the Manila RTC,” he said on the sidelines of the third major player bidding at the NTC headquarters in Quezon City.

In a decision dated November 5, Judge Dinnah Aguila-Topacio denied Now’s prayer for a writ of preliminary injunction.

The telco wants to invalidate certain provisions of the terms of reference, specifically the P700-million “Participation Security,” the P14 to P24-billion “Performance Security,” and the P10-million non-refundable “Appeal Fee.”

“We are choosing to elevate this to the Court of Appeals. Our lawyers have already filed this before the CA,” Lopez said.

“Our potential filing for the new major player bidding will potentially affect the case and we were advised by our legal counsels not to submit our bidding documents at the moment,” he noted. – GMA News

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!