Brazil’s state-run telecom company Telebras has said that a submarine cable for Internet transmissions between Latin America’s biggest country and Europe will be laid starting this year.
Spokesman Ronald Valladao yesterday said the company’s board authorised Telebras to sign an agreement with Spain’s IslaLink Submarine Cables to lay and operate the cable. He said the $185 million project is expected to begin operating in early 2016.
Telebras will have a 35 per cent stake in the Brazilian company that will be formed to operate the trans-Atlantic cable while IslaLink will have a 45 per cent stake and another Brazilian partner will have a 20 per cent stake, Valladao said.
He said the project started being planned in 2012, before last year’s revelations about the US spy programme carried out by the National Security Agency. However, he added, the cable will help protect Internet communications between Brazil and Europe,
