Communications Minister Gilad Erdan today awarded a communications license to the venture.
Sources inform ''Globes'' that Israel Electric Corporation (IEC) (TASE: ELEC.B22) will hire 150 employees for fiber optic venture, for which it is the chief contractor. Minister of Communications Gilad Erdan today awarded a communications license to the venture, provisionally named IBC, which is jointly owned by IEC and a consortium of Israeli and foreign companies headed by Sweden's ViaEuropa.
The ventures partners have said that the first stage of the work will begin in November, but the deployment of the fiber optic network will reportedly begin later.
The venture will lay fiber optic cables to the home over IEC's network. The deployment will be in stages. In the first few years, the venture's partner can decide where to lay the cables, on the basis of demand. The venture will recruit customers via a designated website, where applicants can sign up. The venture will check whether the applicant resides in an area with enough customers and decide whether to lay the infrastructure. This means that a single potential customer in an apartment building may not receive the fiber optic service.
Published by Globes [online], Israel business news - www.globes-online.com - on August 27, 2013
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