Globacom lands cable in Nigeria

Globacom has performed the historic landing of its Glo One submarine broadband cable in Lagos, Nigeria, states All Africa.com.

The landing of the submarine cable in Lagos makes Globacom the first operator to successfully link submarine cable from the UK to Nigeria, a project that is designed to crash telecom prices and make bandwidth more accessible.

The 9 800km fibre optic cable was embarked upon by Globacom two years ago and according to Globacom, the project will be completed in September this year.

IBM pledged to make investments and acquisitions in developing regions such as Africa top of its list of priorities, reports Bloomberg.

“Growth markets are very high on the list of priorities for IBM and very high on the list of priorities for me,” says Eli Mendoza, IBM head of corporate development. “We're going to continue to grow very aggressively.”

The company has spent about $20 billion on more than 100 acquisitions in the past decade. Earlier this year, the company offered to buy server and software maker Sun Microsystems for about $7 billion.

Indian state-owned telecom operator MTNL has submitted a bid to acquire a 75% stake in Nigerian Telecommunications (Nitel), says Economic Times.

MTNL will now appoint consultants to evaluate Nitel before placing a financial bid for the Nigerian government-owned telco that has both fixed-line and mobile operations.

The Indian telco will, however, have to compete with 12 other bidders, including global majors such as Africa's largest telecom operator MTN, Etisalat and Telefonica.