(Reuters) - Search engine Google Inc and five Asian telecom and communications companies have agreed to invest about $300 million to develop and operate a trans-Pacific cable network connecting the United States to Japan.
To be named "FASTER," the cable network will have an initial capacity of 60 terabits per second and will connect Los Angeles, Portland, San Francisco, Oregon and Seattle to Chikura and Shima in Japan.
(Reuters) - Sprint Corp S.N has dropped its bid to acquire No. 4 U.S. carrier T-Mobile U.S. Inc TMUS.N after regulatory resistance showed no signs of softening despite months of lobbying, people familiar with the matter told Reuters.
Sprint's shares plunged 19 percent to $5.90, while T-Mobile fell 10 percent to $30.38 on Wednesday.
The move is a rare setback for Sprint's Japanese parent, SoftBank Corp 9984.T, whose billionaire founder Masayoshi Son had seen the acquisition as key to taking on U.S. market leaders AT&T Inc T.N and Verizon Communications Inc VZ.N.
TOKYO (Reuters) - Japan's KDDI Corp and SoftBank Corp said bigger rival NTT DoCoMo Inc (DoCoMo) could gain too much control of the wireless telecommunications business should DoCoMo's parent offer its fibre-optic broadband for resale.
Former state monopoly Nippon Telegraph and Telephone Corp (NTT) in May said it planned to sell its fibre-optic broadband to mobile phone network providers, which can then re-brand the service and sell it together with mobile phone contracts.