Telecom, Vodafone and Telstra have signed a “non-binding” memorandum of understanding to invest in a new submarine cable between Auckland and Sydney.
Telecom chief executive Simon Moutter and Vodafone New Zealand CEO Russell Stanners jointly said:
“The Tasman Global Access cable will also enable New Zealand to better leverage the four additional international cable systems currently serving Australia (with several more proposed or in development), providing important redundancy for New Zealand. Australia also enjoys good connectivity with Asia, which is achieving strong internet traffic growth in line with global economic shifts.”
According to the release, the tentatively named “Tasman Global Access” (TGA) cable will cost less than $60 million and will have a...