By Business Report

Angola’s planned undersea cable to South America would cut data transmission times between stock markets in Brazil and Hong Kong and open a new route between Africa and the US, the head of state-owned Angola Cables said.

France’s Alcatel-Lucent, Japan’s NEC, and TE Connectivity were bidding for an estimated $170 million (R1.76 billion) contract to lay the 6 000km cable between Angola and Brazil, Antonio Nunes, the chief executive of Angola Cables, said in an interview.

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