Sharechat Logo

Vodafone NZ signs up for Pacific Fibre

NZPA

Monday 22nd August 2011

Text too small?

Vodafone New Zealand has signed up as a customer of Pacific Fibre, the company that wants to build an undersea cable between Australia, New Zealand and the United States to rival the Southern Cross cable network.

Pacific Fibre said it had signed a 10-year agreement with Vodafone. It did not put a value on the contract, beyond saying that it was a multi-million dollar figure.

Pacific Fibre chief executive Mark Rushworth, a former Vodafone New Zealand chief marketing officer, said the contract was Pacific Fibre's largest to date.

Its cable system was scheduled to be launched by early 2014, the company said today.

Vodafone chief executive Russell Stanners said Pacific Fibre was bringing much needed competition to the international bandwidth market.

Pacific Fibre's investors include Rod Drury, the founder of Xero, Sir Stephen Tindall, the founder of The Warehouse, and Trade Me founder Sam Morgan. The company has estimated the cable will cost a total of $US400 million ($NZ488 million).



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report