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Broadband

Hawaiki Cable fails to secure remaining funding

Monday 1 February 2016 | 21:55 CET | News
Hawaiki Submarine Cable, company looking to build the NZD 500 million Hawaiki submarine cable system to New Zealand, has failed to reach a funding agreement with New York-based private equity firm Stonepeak International Partners, Stuff.co.nz reports. Hawaiki Cable had been negotiating a deal to provide the remaining NZD 150 million needed for the trans-Pacific cable. Founder Remi Galasso said that it has signed up a tier one US telecoms carrier as a customer, and is confident that it will secure funding from New Zealand investors in March. Other customers which have agreed to pre-buy

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Categories: Fixed
Companies: Hawaiki Cable
Countries: New Zealand / World
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