US cable company Time Warner Cable has agreed a $600 million takeover of DukeNet Communications, which operates a fiber-optic network across various Southeastern states.
DukeNet (Charlotte, NC, USA) is currently 50% owned by Duke Energy (Charlotte, NC, USA), the country’s largest electric power holding company, with the other 50% held by investment firm Alinda Capital (Greenwich, CT, USA).
The companies expect the transaction to close in the first quarter of 2014, subject to normal regulatory approvals.
Chinese telecommunications equipment maker Huawei plans to create 5,500 jobs in Europe within five years as the company expands its services in the region, state-owned newspaper China Daily said on Saturday.
Huawei (Shenzhen, China), the world's second largest maker of telecoms communication equipment, is to offer information technology solutions to European businesses, Patrick Zhang, president of marketing and solutions at Huawei Enterprise Business Group, told the newspaper.
AT&T Inc said on Friday it is exploring options such as a sale of its wireless broadcast towers but noted that its ability to reach a deal would depend on the terms it is able to reach with the buyer for its ongoing use of the towers.
When wireless service providers sell broadcast towers they typically lease back space from tower operators so they can continue to offer their services without interruption.
Bloomberg reported earlier this week that AT&T (Dallas, TX, USA) had hired bankers for a sale of its towers that could fetch about $5 billion.
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Huawei Technologies Co Ltd expects to take in more than $2 billion in revenues selling 4G gear this year as global carriers from China to Europe expand their networks, senior company executives said on Wednesday.
Even though 4G LTE (long-term evolution) promises faster video streaming and Internet downloads, the cost of smartphones would need to come down before the technology can enter the global mainstream, they told reporters in a briefing.
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Cisco Systems Inc on Tuesday announced its first foray into the data storage market, saying it would pay $415 million to acquire privately held storage system maker Whiptail.
Cisco (San Jose, CA, USA) said it will pay cash and incentives for the acquisition, expected to close in the first quarter of 2014.
Whiptail, founded in 2008 and based in Whippany, New Jersey, makes storage systems based on flash memory chips, which allow data to move through servers with greater speed and efficiency as well as higher volume.