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NEW YORK, May 17, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) today announced the network carrier partnership under development that would accelerate iQSTEL's entry into the 5G market could now also include an equity component with iQSTEL acquiring 10% of the network carrier.
The target carrier owns and operates a larger fiber-optic (FO) network with hundreds of miles of fiber optic network covering a combined 40 million direct and indirect clients and potential clients in America.
As previously announced, iQSTEL's management presented a partnership proposal to the FO network's Board of Directors two weeks ago. iQSTEL has since started to explore the acquisition of 10% of the capital stock of the FO network. The non-controlling, minor equity position is currently held by an independent shareholder. The acquisition of the 10% position is part of the ongoing partnership negotiations.
With the 5G market estimated to reach a value of $700 Billion by 2025, the 10% equity position has the potential to have a positive impact on iQSTEL's balance sheet in addition to solidifying the partnership with the FO network.
Look for more news coming soon on the overall FO network partnership development in addition to news on other M&A activity underway.
iQSTEL recently reported Q1-FY2021 182% revenue growth keeping the company well on track to its $60.5 Million Annual Revenue Forecast.
About iQSTEL Inc.:
iQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
SOURCE iQSTEL, Inc.