SAO PAULO – Brazil’s state state-run telecom company Telebras says a submarine cable for Internet transmissions between Latin America’s biggest country and Europe will be laid starting this year.
Telebras spokesman Ronald Valladao says the company’s board of directors authorized Telebras to sign an agreement with Spain’s IslaLink Submarine Cables to lay and operate the cable.
He said Wednesday that the $185 million project is expected to begin operating in early 2016.
He says Telebras will have a 35 per cent stake in the Brazilian company that will be formed to operate the trans-Atlantic cable. IslaLink will have a 45 per cent stake and another Brazilian partner will have a 20 per cent stake.