C&W Optus, Reef sign $100m fibre optic deal

Cable & Wireless Optus is to lease a fibre optic cable between Brisbane and Cairns from Reef Networks, in a deal worth $100 million.

Yet to be built, the link will provide an alternative to Telstra's fibre optic link between the two Queensland cities.

Chris Anderson, chief executive, C&W Optus, announced the deal in a speech to the Australian Institute of Company Directors in Brisbane.

The length of the lease was not disclosed.

The new cable will extend C&W Optus ' fibre optic network which currently extends from Perth to Brisbane, via Adelaide, Melbourne, Canberra and Sydney.

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More about Australian Institute of Company DirectorsCable & WirelessC&W OptusOptusTelstra Corporation

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