Israel seeks new fibre investor

10 Oct 2011

The Israeli government has announced that it is seeking an investor to help build a 25,000km fibre-optic network that would bring ultra high speed internet to Israel and increase competition, Reuters reports. Approximately 65% of the population will be able to access the internet at speeds of 100Mbps by 2018, with the remainder of the country receiving coverage by 2020. The investor will take a 51% stake in a new private company to be formed by April 2012, with state-run Israel Electric Corp (IEC) owning the remainder of the venture. Communication Minister Moshe Kahlon said yesterday that the Israeli telecoms infrastructure sector needed a new player as only two operators currently possess broadband networks of any notable size, namely Bezeq and HOT.