Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Vodafone, Telstra and Spark New Zealand have confirmed that they plan to build a new 2,300km subsea cable between New Zealand and Australia.
The three telcos will invest approximately $70 million on the new Tasman Global Access (TGA) Cable, which will land in New Zealand at Raglan, south of Auckland, and at Telstra’s Oxford Falls landing station in Sydney.
The TGA system is designed for a capacity of at least 20 Tbps, and will offer low-latency connectivity across the Tasman Sea, between Raglan in New Zealand and Narrabeen in Australia. The system will provide an alternative route for trans-Tasman traffic, significantly improving New Zealand’s international connectivity, as well as strengthening links into fast-growing Asian markets.
Simon Moutter, managing director of Spark New Zealand and Russell Stanners, CEO of Vodafone New Zealand, jointly commented on behalf of the consortium: “TGA will further strengthen reliable ultra-broadband connectivity in Australasia for a growing range of applications, including cloud computing, data center applications, content delivery, government and enterprise services. Original post at Telecom Asia