Facebook To Extend Africa's Undersea Cable Network: Bloomberg
- Facebook Inc (NASDAQ: FB) and some of the world's largest telecommunications carriers, China Mobile Ltd (OTC: CHLKF) and MTN Group Ltd, will likely build a wider-than-earlier planned giant sub-sea cable in Africa, Bloomberg reports.
- Other project partners include Telecom Egypt SAE (TEGPY), Vodafone Group PLC (NASDAQ: VOD), and Orange SA (OTC: FNCTF).
- They plan to add the Indian Ocean island countries of Seychelles and Comoros, Angola, and a new connection to Nigeria.
- The expansion is in addition to a recently announced link to the Canary Islands, bringing connection-landings to 35 in 26 countries. The 2Africa investment will see a 37,000-kilometer cable connecting Africa, Europe, and the Middle East, operational by 2024.
- The tech giants like Facebook and Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google aim to tap growing demand for fast-data transfers from streaming movies to social messaging and telemedicine.
- Price Action: FB shares traded higher by 0.12% at $362.74 on the last check Monday.
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