Lebanon buys 24% stake in Alexandros cable

Minister expects Internet costs to fall, speeds to rise

Tags: Lebanon
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Lebanon buys 24% stake in Alexandros cable The deal is expected to boost Internet speeds in Lebanon.
By  ITP.net Staff Writer Published  March 12, 2013

Lebanon's Ministry of Telecommunications has acquired a 24% of the Alexandros marine cable which connects with Cyprus, Egypt and France, according to Lebanese newspaper, The Daily Star.

The deal gives Lebanon 700 gigabytes of international capacity to Egypt and Europe, in addition to the current 200 GB that is supplied by the IMEWE cable.

Nicolas Sehnaoui, Lebanon's telecoms minister, announced the deal last Friday after signing an agreement with Stathis Kittis, chairman of Cyta Global.

Sehnaoui said that he expected the deal to boost Internet speeds in Lebanon and lead to a drop in Internet wholesale rates.

Sehnaoui also announced a nonbinding memo of understanding to launch the Europa cable, which would replace the current CADMODS cable, the report added.

"This acquisition is very crucial to attract international companies to invest in the telecoms sector in Lebanon and this will enable us to become a regional telecoms hub," the minister was quoted as saying.

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