Facebook To Extend Africa's Undersea Cable Network: Bloomberg

Facebook Inc FB and some of the world's largest telecommunications carriers, China Mobile Ltd CHLKF and MTN Group Ltd, will likely build a wider-than-earlier planned giant sub-sea cable in Africa, Bloomberg reports.
Other project partners include Telecom Egypt SAE (TEGPY), Vodafone Group PLC VOD, and Orange SA FNCTF.
They plan to add the Indian Ocean island countries of Seychelles and Comoros, Angola, and a new connection to Nigeria.
The expansion is in addition to a recently announced link to the Canary Islands, bringing connection-landings to 35 in 26 countries. The 2Africa investment will see a 37,000-kilometer cable connecting Africa, Europe, and the Middle East, operational by 2024.
The tech giants like Facebook and Alphabet Inc's GOOG GOOGL Google aim to tap growing demand for fast-data transfers from streaming movies to social messaging and telemedicine.
Price Action: FB shares traded higher by 0.12% at $362.74 on the last check Monday.