4iG Signs MoU With Telecom Egypt on Submarine Cable
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Listed Hungarian ICT company 4iG signed a memorandum of understanding with Telecom Egypt on the construction of a high-capacity submarine fiber-optic cable between Albania and Egypt on Tuesday, 4iG said ahead of the opening bell on Wednesday, according to a report by state news wire MTI.
By setting up a new European submarine cable entry point with a transit route different from the existing Mediterranean routes, 4iG aims to gain a share of the "huge and rapidly growing" market for data traffic between Europe and Asia as well as Europe and East Africa, the company said.
4iG owns a telco in Albania, the report notes.
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