Sao Tome govt, CST sign submarine cable agreement

The government of Sao Tome and Principe, Africatel and the Companhia sao-tomense de Telecomunicacoes (CST), controlled by Portugal Telecom, have signed an agreement for the establishment of a managing body for the submarine cable called STP Cabo. According to Portugal Telecom vice president, Luis Pacheco, this is the largest investment made by a company of Sao Tome, estimated at USD 700 million.