MUMBAI — Reliance Communications, which late last year exited the consumer telecom business as part of a group restructure, is investing $600 million to lay a 68,000km undersea cable spreading up to Italy and Hong Kong, with its partner China’s Alibaba Group Holding and five others funding half of the project.
The company was rescued from the edge of bankruptcy by Mukesh Ambani, elder brother of Anil who controls the company late December. Reliance Communications expects the initiative, to be completed by December 2020, to increase the revenue of its wholly owned subsidiary Global Cloud Exchange by three times in five years, Chief Executive Bill Barney said on Tuesday.
“The cloud and fiber initiative is our response to the key…
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