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Broadband

Abu Dhabi Investment Group buys 62.5% of cable firm FPT

Monday 14 August 2017 | 10:17 CET | News
The UAE's Abu Dhabi Investment Group (ABDIG) has announced the acquisition of 62.5 percent of the shares in Fiber Prime Telecommunication (FPT). ABDIG is planning to invest up to USD 5 billion in subsea cable projects and will restructure FPT to become a top tier worldwide subsea cable company.  FPT claims to provide fast, affordable, and reliable data services. FPT's board concluded that the sale of FPT to ABDIG was in the best interest of FPT. 

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Categories: Fixed
Countries: United Arab Emirates
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