WASHINGTON (Reuters) - U.S. lawmakers grilled AT&T Inc and DirecTV on Tuesday over a proposed merger that some Democrats and public interest groups fear will result in higher costs and less competition.
The chief executives of the No. 2 wireless carrier and the largest U.S. satellite TV service provider testified about their proposed $48.5 billion deal at hearings in the House of Representatives and the Senate, and said the scale the merger would allow them to save on the high costs of negotiating rights to video content.
(Reuters) - Google Inc is considering an investment in a new cable across the Pacific Ocean, the Wall Street Journal reported citing people familiar with the matter.
The move comes as technology companies send an increasing amount of traffic across private networks, the report said. (on.wsj.com/1isOMAv)
Google took a stake in a similar $300 million cable in 2010, according to the report. The Internet search company would use the new subsea cable to connect data centers in Oregon and Japan, the report said.
Level 3 Communications Inc will buy internet services provider tw telecom Inc for more than $5.6 billion in cash and stock to expand its commercial fiber network in the United States.
The $40.86 per-share deal represents a premium of 12 percent to tw telecom's Friday closing price on the Nasdaq. The total deal value is based on outstanding shares as of April 30.
Tw telecom shares, which have not traded over $40 since 2001, reached an intraday high of $40.51.
WASHINGTON (Reuters) - A surge in mobile Internet usage has U.S. regulators considering whether to apply the same rules to fixed and wireless Internet traffic, and large technology firms are siding with consumer advocates to call for such a change.
If DirecTV is unable to strike a deal with the National Football League to renew the satellite TV operator's contract to offer the popular NFL Sunday Ticket football package, AT&T Inc can pull out of the merger, according to a regulatory filing.
In a filing related to the merger, the companies said, "the parties also have agreed that in the unlikely event that the Company's agreement for the 'NFL Sunday Ticket' service is not renewed on substantially the terms discussed between the parties, AT&T (Dallas, TX, USA) may elect not to consummate the merger."
South Africa’s Vodacom has announced plans to acquire Neotel from India’s Tata Communications for a cash fee of ZAR7 billion ($676 million).
The takeover will put the operator, owned by Vodafone (Newbury, UK), in control of South Africa’s second-biggest fixed-line network, allowing it to better compete in the market for unified communications products that combine fixed and mobile capabilities.
It says it plans to offer an expanded and enhanced range of converged services – such as hosted PBX – to enterprise customers.
Yahoo Japan Corp has dropped its plan to buy mobile network operator eAccess Ltd from SoftBank Corp in a 324 billion yen ($3.2 billion) deal that was part of a reorganization of SoftBank group assets.
Yahoo Japan, the country's biggest Internet portal and 42.6 percent owned by SoftBank, will proceed with a planned low-cost mobile Internet service using the eAccess (Tokyo, Japan) mobile network, SoftBank (Tokyo, Japan) and Yahoo Japan (Tokyo, Japan) said on Monday.
ITU Telecom World is the global platform for high-level debate, networking, innovation-showcasing and knowledge-sharing across the ICT community. It brings together public and private sectors, emerging markets and industry investors to explore the current massive disruption of the ICT sector and its implications for the future.
Egyptian fixed-line incumbent Telecom Egypt has announced its EGP2.5 billion acquisition of a mobile license from the country’s authorities.
The license will allow the operator to provide mobile services alongside the fixed ones it already offers to consumers and businesses, using the local mobile networks of Etisalat (Abu Dhabi, United Arab Emirates), Orange (Paris, France) and Vodafone (Newbury, UK).
The event's brochure includes a respected speaker line up from international telecom companies, mobile network operators, digital agencies and media consultants who are shaping the presence of telecom sector in the online world.