Swisscom Invests CHF170 Million To Expand Fiber-optic Network
December 17 2010 - 9:29AM
Dow Jones News
Swiss telecoms provider Swisscom AG (SCMN.VX) said Friday it has
signed a deal to connect the city of Basel to the high speed
fiber-optic network.
Swisscom will assume 60% of the 170 million Swiss franc ($176.8
million) cost with the rest being picked up by state-owned energy
provider IWB. The project now requires approval from the cantonal
council of Basel city.
A decision is expected by the beginning of 2011.
"The concluded contract and the ambitious expansion plans ensure
that Basel will be one of the very first cities in Switzerland to
enjoy city-wide, ultra high-speed services via fiber-optic
connections, as early as 2017," Swisscom said in a statement.
The Basel project is part of Swisscom's plan to spend CHF2
billion upgrading bandwidth to account for around a third of all
Swiss households by 2015.
Similar projects are underway in Geneva, Zurich and Berne.
-By John Revill, Dow Jones Newswires; +41 43 443 8042 ;
john.revill@dowjones.com
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