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Telecom Venezuela and Transbit form new company for undersea link to Cuba

BNamericas, quoting Caracas daily El Universal, reports that state-owned Telecom Venezuela (formerly CVG Telecom) and Cuban telco Transbit have created a new company called Telecomunicaciones Gran Caribe to build and operate the planned submarine fibre- optic cable connecting the two countries.

According to the newspaper, Telecom Venezuela will have a 60% stake in the new company while Transbit will own the rest. The company will be headquartered in Caracas, with a subsidiary in Cuba. The planned cable would run an estimated 1,552km from La Guaira, Vargas state, in northern Venezuela to Siboney in the eastern province of Santiago de Cuba, and support 20 million simultaneous voice calls.

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