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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Telstra Corporation Limited (PK) | USOTC:TLSYY | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.48 | 0.00 | 01:00:00 |
By Rebecca Howard
WELLINGTON--Telecom Corp. of New Zealand Ltd. (TEL.NZ), Telstra Corp. (TLS.AU) and Vodafone Group PLC's (VOD.LN) local unit said Tuesday they have signed a non-binding memorandum of understanding to invest in the construction of a new submarine telecommunications cable between Auckland and Sydney.
The total cost of the new cable is expected to be less than 60 million New Zealand dollars ($51 million) and will incorporate approximately 300 times the current internet data demand out of New Zealand.
The partners expect to finalize the design within the next few months with a likely completion data of mid to late 2014.
-Write to Rebecca Howard at rebecca.howard@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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