UK-based Cable Co. International Ltd. has awarded a $400 million contract to Alcatel Submarine Networks of London, to supply fiber optic cable for what it calls the most advanced transatlantic fiber optic cable system ever constructed. Alcatel will design, manufacture and install 24,000 fiber-km for the link comprising two transoceanic cables. The new ring will carry broadband, voice and data communications services, and is scheduled for completion in 1998. Cable Co. International is a joint venture of MFS Communications Co. Inc. and Cable and Wireless plc., which will own the system.