Verizon funds undersea internet cable network
Reuters
Published: 07 May 2008 08:19 BST
Verizon Communications's business unit said on Tuesday that it would help build an undersea cable connecting Europe, the Middle East and India to expand its global network to support internet traffic.
Verizon Business, the number-two US phone company's unit in charge of corporate clients, said it joined a consortium of 16 companies to build a 9,000 mile optical cable system linking the three regions.
The network, the "Europe India Gateway", is due to be completed in 2010 and will cost more than $700m (£356m). Verizon Business did not disclose how much it would pay.
Verizon Business is involved in more than 67 submarine cables worldwide, and the Europe India Gateway is its third major project in the last four years.
Verizon Business has been boosting investment in such advanced cable networks to provide more stable voice connections and faster internet services for global corporate clients.
Did you find this article useful?
3 out of 5 people found this useful
- Share this article:
