A new infrastructure venture formed by a new consortium will roll out fibre optic broadband and Internet services throughout Israel. Led by ViaEuropa, the consortium will deploy fibre optic cables on the electricity network of the Israeli Electricity Corporation.
Following the installation of the network, customers will be supplied with a range of advanced services and bandwidth significantly higher than those currently existing in Israel. It is hoped that the project, in connecting every household through a technological revolution of broadband communications, will be of broad benefit to the economy, education, health, technology and society of Israel.
A new company will be established for the purposes of this project and will be 60% owned by the consortium and 40% by the IEC. It is expected that the financial closing of the transaction will take place within a month.
In addition to ViaEuropa, the consortium includes Rapac Group, BATM, Zisappel assets and Tamares Holdings, and Cisco Systems will be the technology leader.
