The Vocus Group Ltd (ASX: VOC) share price had a good run last week.
On Friday, October 13, the Vocus share price closed at $2.36.
The next Friday it closed at $2.81, gaining 19% in a week.
Vocus builds, owns and operates a fibre optic network comprising 21,000 km of cable laid across Australia and the telco says its plan to construct a cable linking Perth to Singapore that will be complete next year.
Vocus also has plans to be a serious rival for Telstra Corporation Ltd (ASX: TLS).
And it appears some have faith in Vocus's big plans.
Vocus non-executive chairman Vaughan Bowen forked out almost $500,000, in two separate transactions, in September to snap up more than 400,000 Vocus shares.
This month Hong-Kong based investment manager Janchor Partners Ltd purchased more than 7 million Vocus shares in numerous transactions, with the biggest purchase of more than 4 million shares taking place on October 13.
Vocus, with a market cap of about $1.64 billion announced in August that its underlying EBITDA had increased by 70% from $215.6 million in FY16 to $366.4 million for FY17.
But the company also announced it intends not to declare a final dividend for the FY17 year "in light of the opportunities for investment across the business".
It wasn't such a good week for Vocus's rival Telstra.
While the Vocus share price surged last week, the Telstra share price started and ended at the same price of $3.52 over that period.
The TPG Telecom Ltd (ASX: TPM) share price went from $4.94 to $5.15, a gain of about 4%.
The Amaysim Australia Limited (ASX: AYS) share price didn't do much either during the week ending last Friday. It went from $1.99 to $2.00.
Vocus is expected to provide an investor update today. Perhaps more will be revealed.
