New York, NY, June 1, 2022 — McapMediaWire — 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 $700 billion by 2025.
Following a 90-day due-diligence period, iQSTEL is expected to make an offer for the acquisition of 100% of the capital stock of the company that owns the fiber-optic network.
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).
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