IQST- iQSTEL Announces LOI That Could Lead To Acquisition And Entry Into $700 Billion 5G Market
iQSTEL, Inc. (OTCQX: IQST) has entered a non-binding letter-of-intent for a potential acquisition of a 2,300-mile fiber-optic network in the U.S. This move aims to enhance iQSTEL’s entry into the growing 5G market, projected to reach $700 billion by 2025. The company has been in discussions regarding this acquisition for two years, indicating a commitment to expanding its telecommunications capabilities. Following a 90-day due diligence period, iQSTEL plans to make a formal acquisition offer for the full capital stock of the network owner.
- Acquisition of a fiber-optic network enhances market positioning.
- Strengthens entry into the 5G market, expected to grow significantly.
- Long-term discussions indicate a strategic commitment to growth.
- None.
New York, NY, June 01, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) today announced entering into an exclusive, non-binding letter-of-intent (LOI) whereby, for the purposes of an intended acquisition, the company will conduct due diligence on 2,300 miles of fiber-optic network located in America.
iQSTEL has been in discussions with the target acquisition over the past two years first announcing a potential partnership in May of 2021.
The acquisition would accelerate iQSTEL’s entry into the 5G marketplace, expected to reach
Following a 90-day due-diligence period, iQSTEL is expected to make an offer for the acquisition of
About iQSTEL Inc.:
iQSTEL Inc (OTCQX: 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.
iQSTEL Inc.
IR US Phone: 646-740-0907, IR Email: investors@iqstel.com
Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com
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