MEXICO CITY (Reuters) - Mexico's government on Thursday kick-started a project to launch a state-owned mobile network by 2018, part of a wider effort to support competitors to billionaire Carlos Slim's dominant America Movil.
Mexico's telecoms regulator and the telecommunications and transport ministry (SCT) agreed on terms and conditions for the development of the network in a first step toward launching it, according to a statement from the regulator.
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.
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.
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.
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.
Rolling out new, more compelling services quickly and with guaranteed quality is critical for carriers facing mounting threats from over-the-top (OTT) providers. The prospect of lowering total cost of ownership (TCO) while doing so is driving many to adopt strategies for virtualizing the underlying network.
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.
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.
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.
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.