Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
U.S. telco pulls plug on ambitious plan to build air-to-ground 4G network.
AT&T has abandoned its in-flight connectivity plan before take-off, opting instead to plough money into M&A.
The U.S. telco announced in April an ambitious scheme to build an air-to-ground LTE network and use it as the backhaul for an on-board WiFi service for airlines. AT&T partnered with the aerospace arm of conglomerate Honeywell to tap its hardware and software expertise.
“With AT&T’s planned new network, passengers would gain the reliability they have long hoped for in the sky – for browsing the Internet, checking email, keeping in touch with friends and family through social networking and messaging services, and increasing business productivity,” said AT&T, at the time.
AT&T planned to launch the service in late 2015, but it appears that is no longer the case. Original post at Totaltelecom