Telefónica Telecom plans undersea cable investment

Telefónica Telecom plans to invest USD35 million in an undersea cable project to improve internet capacity by up to 40% according to BNamericas, which cites local newspaper La República quoting Julián Medina, the telco’s president. The project is due to commence in December 2007 and connect with other international undersea cables, though the report did not specify which. The company expects to invest USD500 million in 2007, up from the USD425 million it invested in 2006.