Cisco to set up $80 million China cloud joint venture with TCL

Cisco to invest $16M for 20 percent stake in firm which has not been named

Reuters

BEIJING (Reuters) - Cisco Systems Inc will establish an $80 million joint venture with Chinese hardware manufacturer TCL Corp to invest in commercial cloud computing services, TCL said in a stock exchange filing on Thursday.

Cisco will invest $16 million in the new firm, which has not been named and is still being registered, and hold a 20 percent stake, the filing said. TCL will pay $64 million for an 80 percent share. These investments will be made over three stages, each of which will require the approval of both parties. No timeframe for the investments was given.

Deutsche Telekom and China Mobile to sign 'connected cars' deal

Market for such technology is expected to be worth $20 billion a year by 2018

Reuters

FRANKFURT (Reuters) - Deutsche Telekom and China Mobile will sign a deal on Friday to create a platform for so-called connected cars in China, a Deutsche Telekom spokesman said on Thursday.

The two companies will form a joint venture in which the German telecoms group will bring its technology for machine-to-machine (M2M) communications, while China Mobile will provide the network.

Swisscom weighs $6.3 billion Fastweb sale as Vodafone lurks

Fastweb could be worth between 4B and 5B euros based on 2013 EBITDA

Reuters

LONDON (Reuters) - Telecom operator Swisscom is considering a possible sale of its Italian broadband firm Fastweb, which is worth up to 5 billion euros ($6.3 billion) and has been a target for Vodafone, sources familiar with the situation said.

The Swiss majority state-owned firm, which has already rebuffed several takeover approaches from Vodafone for Fastweb, is now working with UBS, Vodafone's long-term adviser, to facilitate a deal, said the sources who could not be named because the matter is private.

AT&T to pay $105 million to settle charges it 'crammed' phone bills

FTC alleged that as many as 40 percent of subscribers complained about the charges

Reuters

WASHINGTON (Reuters) - AT&T Inc will pay $105 million to settle allegations that it put unauthorized charges on customers' cell phone bills, a practice known as cramming, federal regulators said on Wednesday.

The settlement comes after years of complaints from cell phone owners about being charged for services like daily horoscopes or trivia that they never requested. It was negotiated by the Federal Trade Commission, the Federal Communications Commission and all state attorneys general.

Goldman leads investment by Wall Street in new communications platform

Factored in a range of compliance and best-practices needs for large financial services firms

Reuters

NEW YORK (Reuters) - After spending two years developing a wide-ranging communications tool for Wall Street, Goldman Sachs Group Inc says it has reached the perfect pitch.

    On Wednesday, Goldman and 13 partners plan to announce a $66 million investment in a new company called Symphony Communication Services Holdings LLC, according to a draft press release viewed by Reuters. The partners are all financial services firms, including major global banks and asset managers.

U.S. FCC chief presses experts on mobile 'net neutrality' rules

Weighs in on debate whether the FCC should uphold exemptions for mobile carriers

Reuters

WASHINGTON (Reuters) - U.S. Federal Communications Commission chairman Tom Wheeler urged consumer advocates and wireless industry representatives last week to address how wireless carriers might be allowed to "reasonably manage" their Internet networks.

The issue is at the heart of a debate over whether the FCC should undo exemptions applied to mobile carriers as it rewrites Internet traffic regulations, after an appeals court rejected its 2010 rules in January.

Microsoft calls on U.S. FCC to approve AT&T's bid for DirecTV

AT&T has to convince the FCC that the merger is in the public interest

Reuters

WASHINGTON (Reuters) - Microsoft Corp urged the Federal Communications Commission to approve AT&T's Inc $48.5 billion bid for DirecTV, saying in a filing that the acquisition is crucial to expanding Americans' access to the internet.

The letter, which was dated Sept. 16 and released publicly on Thursday, comes as the FCC conducts a formal review of the merger. The commission is expected to reply to public comments on Oct. 16.

If the merger is approved, AT&T promises to expand its footprint to include an additional 13 million rural customers.

Ericsson to shut modem business, expects savings

Europe's semiconductor firms are struggling to compete with bigger U.S. and Asian rivals

Reuters

STOCKHOLM (Reuters) - Ericsson, the world's top mobile network equipment market, will stop developing modems, it said on Thursday, shutting a loss-making unit it took on after joint venture partner STMicroelectronics pulled out a year ago.

Europe's semiconductor firms are struggling to compete with bigger U.S. and Asian rivals, which have largely outsourced chip manufacturing to cope with volatility in demand and prices.

"Since integration, the modems market has developed in a direction that has reduced the addressable market for thin modems," Ericsson said in a statement.

Orange offers to buy Spain's Jazztel for 3.4 billion euros

Means Jazztel and Orange will not push now to acwuire TeliaSonera's Yoigo

Reuters

PARIS/MADRID (Reuters) - Orange has offered buy Spanish telecoms operator Jazztel for around 3.4 billion euros (4.40 billion US dollar), a deal that could help the French company jump ahead of rival Vodafone in the country's mobile market.

Orange's offer for Jazztel is at 13 euros per share in cash, valuing it at 3.4 billion euros. The French company will pay for the acquisition with hybrid bonds and a capital increase of up to 2 billion euros.

Jazztel Chairman Leopoldo Fernandez Pujals has agreed to sell his 14.5 percent stake.

AT&T 'intrigued' by Mexico, Latin America

AT&T is one of several potential buyers Carlos Slim's America Movil has contacted

Reuters

NEW YORK (Reuters) - AT&T Inc is "intrigued" by Latin America and especially Mexico and would not rule out an opportunistic deal there even as it seeks to complete its $48.5 billion planned takeover of DirecTV, an AT&T executive said at a conference on Tuesday.

AT&T is one of several potential buyers Carlos Slim's America Movil has contacted as it tries to sell a chunk of assets, according to a source familiar with the situation.

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