The deal represents Egypt's plans to prioritize privatization

The second cable to land at the mouth of the Suez Canal

The government had been looking to sell a 10 percent stake

The stake is open to foreign investors

Uses a fiber reinforced polymer solution

Cable will connect from Port Said to Crete

2Africa's subsea cable spans 45,000km and three continents

LS Cables to acquire a stake in KT Submarine, Gujarat to get its first cable landing station

An agreement could be in place by the end of the year

Would be the first cable to directly connect the two countries

Route joins Europe in Portugal and France

In a smart village near Cairo

The deal was announced during Mobile World Congress in Barcelona