ATHENS : Greece and Saudi Arabia agreed on Tuesday on the main terms to set up a joint venture to lay a fibre optic data cable that will link Europe with Asia, Greek sources said on Tuesday.
Greece's power utility Public Power Company and Cyprus' telecoms operator CYTA, will also hold a stake in the project, pending final corporate approvals, a Greek diplomat said, speaking on condition of anonymity. Another person close to the deal said the cable, which will connect users from Italy to Singapore, will cost about 800 million euros .
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