U.S. tech giants should bear some of the costs of developing Europe's telecoms networks because they use them so heavily, chief executives of Deutsche Telekom, Vodafone and 11 other major European telecoms companies said on Monday. (Sign up to our Technology newsletter, Today's Cache, for insights on emerging themes at the intersection of technology, business and policy. Investments in Europe's telco sector rose to 52.5 billion euros ($59.4 billion) last year, a six-year high. The CEOs did not mention any tech firms by name, but Reuters understands that U.S.-listed giants such as Netflix and Facebook are companies they have in mind. EU lawmakers have to discuss their proposal with EU countries before it can be adopted and may struggle to find agreement.

Source: The Hindu November 29, 2021 08:30 UTC