Chinese telcos are reportedly planning to enter the transtasman cable market and build a submarine internet pipe between Auckland and Sydney

Chinese telcos are reportedly planning to enter the transtasman cable market and build a submarine internet pipe between Auckland and Sydney.
Australasian telecommunications news service, Communications Day, says Axin Ltd is teaming up with Huawei Marine to build the US$100 million internet cable.

Huawei Marine is a partly-owned subsidiary of the Chinese telco giant Huawei, while Axin is a newly-formed market representative of a firm that China Telecom owns 51 per cent of.

According to Communications Day, financing for the cable has already been approved by the Export-Import Bank of China and work could start by the end of this year.

Axin chairman Robin Lee told Communications Day that negotiations with Huawei Marine had started "last June or July" but that the company had kept quiet about the project.

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Full story @ NZ Herald: http://www.nzherald.co.nz/