Second cable moves closer

Stuff reports:

Kiwi startup Pacific Fibre yesterday announced a deal with Asian telco Pacnet to share the US$400 million (NZ$548m) cost of building and operating its proposed 13,600-kilometre cable joining Australia, New Zealand and the United States. The project aims to be a competitor for the Southern Cross Cable, half-owned by Telecom, and reduce the price of international data traffic  a major part of internet service costs because Kiwis download more than 85 per cent of their net content from overseas.

Well done to Rod, Lance and the team for turning what was ambitious talk into almost reality. This is a big step forward.