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'Essential project for economic growth' (illustration)
'Essential project for economic growth' (illustration) 
 
 

Cabinet OKs new high-speed Internet firm

Third high-speed Internet infrastructure to be set up using state-run Israel Electric Corp's power grid

Reuters
Published: 03.09.11, 07:35 / Israel Business

The cabinet approved a plan on Sunday to set up a third high-speed Internet infrastructure using state-run Israel Electric Corp's power grid.

 

Under the Communication Ministry's plan, IEC would hold 49% of the new communications company while a private investor would own the remaining 51%, the ministry said in a statement. The network would run in part on fiber optics.

 

"The cabinet's decision significantly advances the establishment of a new communications company," Communications Minister Moshe Kahlon said. "The project of broadband Internet for every home is essential for economic growth and to help the weaker sectors."

 

Consumers in Israel currently have two options for broadband Internet at home – cable through HOT and via phone lines from telecoms sector leader Bezeq.

 

 

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