Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (51)	10/6/1998 9:46:00 AM
From: MangoBoy	Read Replies (1) \| Respond to of 15615

[New Zealand Telecom Says Direct Cable Link To U.S. To Proceed] WELLINGTON, New Zealand -(Dow Jones)- New Zealand telecommunications concern Telecom Corp. of New Zealand Ltd. on Tuesday confirmed that it will proceed to lay down the Southern Cross Cable Network to the U.S. from Australia and New Zealand. "The Southern Cross Cable Network, driven by the huge increase in customer demand for data and internet services, will be the largest and most direct cable link to the U.S. from Australia and New Zealand," Telecom said. The sponsors of the project are Telecom, Optus of Australia, and WorldCom Inc. of the U.S. Telecom Chief Executive Roderick Deane said the cable project was critical to New Zealand's future economic well-being in an increasingly global online economy. "This project is a key part of our strategy to lead the New Zealand economy online through the internet, and part of the roll out of our broad-band capability for data delivery. One of the major reasons for this project is that such technology enables New Zealand to counter the disadvantages of distance that have always bedeviled us," he said. It expects the network to cost in excess of $12 billion. The 29-kilometer high capacity fiber optic submarine cable loop will link New Zealand and Australia with Hawaii, the mainland United States and Fiji. It expects the first phase of the Southern Cross Cable Network linking Australia and New Zealand to the U.S. to be complete by the end of 1999. The second phase routing the cable back to Australia via Fiji is due for completion in 2000. Telecom Corp. said Alcatel SA and Fujitsu Ltd. have been awarded the supply contract for the Southern Cross Cable Network, with Alcatel responsible for the major part of the total contract including the supply of undersea electronics, the cable and all terminal equipment at the landing stations. In a statement, Alcatel's New Zealand General Manager Tone Borren said the project represents a "huge boost for New Zealand businesses." "The technology will increase data capacity, establishing a truly global marketplace," Borren said.