A fund will be created from revenues from Bezeq and its rivals to finance fibre deployment in areas where Bezeq will not deploy. Smaller firms could bid for the business.Rivals Cellcom and Partner Communications have begun to establish their own fibre networks, which boost Internet surfing speeds to up to 1,000 megabits per second.Bezeq currently offers a maximum of 100 Mbps.Mizrahi said Bezeq will raise its speed to 200 Mbps on its existing network in November while deploying a fibre network. "It's an opportunity for us not only to preserve our customer base but also take market share that has been lost," he said. "The overall effect (on our profits) will be very positive" despite the competition. "Bezeq's move followed Israel's cabinet this week approving a a plan to accelerate fibre deployment.Separately, Bezeq said it agreed to sell its Walla news site to the Jerusalem Post for 65 million shekels ($19 million).

Source: Economic Times September 15, 2020 10:09 UTC