The Net Heads South (to Latin America)

Despite the global tech slump, bold investors are finding opportunities in this fast-growing market

The internet has long been viewed with suspicion by the often insular business and government elites of the Caribbean Basin. It was just one more way, they grumbled, to get trampled by the global economy. But bold investors are finding opportunity in that angst. This year, more than 5,000 miles of undersea fiber-optic cable is being laid from Miami to the Yucatan to the Bahamas, wiring 15 countries and islands. The $450 million venture is led by a firm based in Miami and Bermuda, aptly called New World Network. "It makes sense for us precisely because the Caribbean is so underserved,"...

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