Vodafone signs up for trans-Pacific cable
Updated at 6:45 pm on 22 August 2011
Pacific Fibre has received a major boost to its planned high-speed trans-Pacific internet cable, signing up Vodafone as a customer.
The British-based mobile phone giant will be Pacific Fibre's second and biggest customer, after signing a confidential multi-million dollar agreement spanning a decade.
The cable will link New Zealand, Australia and the US by 2014, and compete with Southern Cross's cable.
Vodafone chief executive Russell Stanners says Pacific Fibre is bringing competition to the international bandwidth market which should result in lower prices for customers.
Meanwhile, Pacific Fibre chief executive Mark Rushwork describes it as an important milestone for the company.
He says the deal will cement the company's future by bringing other customers on board but also give global investors who know and trust the Vodafone brand the confidence to investment, and that will help with capital raisingf.
Pacific Fibre backers include the Trade Me founder Sam Morgan and The Warehouse's Sir Stephen Tindall
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