Facebook Inc (NASDAQ:FB) surged 0.85% and to closed at $136.60 on Monday Real Time (12:02PM EST). According to Recode, The social giant on Monday declared plans to lay nearly 500 miles of fiber cable in Uganda by the end of the year, infrastructure that Facebook believes will provide internet access for more than three million people.
Facebook is not, however, providing its own wireless network. The company is partnering with Airtel and BCS to provide the actual internet service, and says the fiber will offer more support for “mobile operators’ base stations.” The company also says that it’s “open” to working with other network providers down the line.
CEO Mark Zuckerberg has been trying to fix that, both with infrastructure and with efforts to lower the cost of wireless data.
In India, for example, Facebook tried to make some internet services free for some users, including its own social network. Indian regulators pushed back because of net neutrality concerns, and the free service was ultimately blocked.
In 2015, Facebook started building solar-powered drones to fly high overhead and beam internet to rural places down below. The first test flight for one of these drones was completed in June, though it crashed upon landing. (Even so, the drone approach is, as far as we know, still very much part of the company’s longterm plans.)