Networks Asia — Alibaba Group Holding and SoftBank established a joint-venture firm SB Cloud to launch cloud computing services in Japan that use technologies and solutions from Alibaba Cloud, the cloud computing arm of Alibaba Group. SB Cloud will open a new data center in Japan and provide competitive and enhanced public cloud computing services from Alibaba Cloud to meet the various needs of Japanese customers, ranging from startups to multinational companies.
ZDNet — Telstra has cited the lack of an acceptable “risk-reward balance” as the reason for abandoning negotiations with Filipino giant San Miguel Corporation over a $1 billion equity investment in a wireless joint venture in the Philippines.
SBS — Telstra has abandoned talks with food and beer giant San Miguel about setting up a third mobile operator in the Philippines, but vows to continue its pursuit of growth opportunities in Asia. Australia’s biggest phone and internet provider, which announced the talks in August, was looking to invest up to $US1 billion ($A1.33 billion) in the proposed wireless joint venture in the Philippines, which has one of the lowest mobile network speeds in the world.
Tech in Asia — Indian online travel venture ibibo Group has a quarter of a billion reasons to celebrate. Last night, it announced that South African global internet and media company Naspers Group will be pouring another US$250 million of investment into the group. Ibibo is a joint venture between Naspers and Chinese internet giant Tencent.
China Tech News — China’s Letv and the luxury British sports car manufacturer Aston Martin signed an electric car joint venture MOU in Frankfurt, Germany. With each party holdsing a 50% stake, Letv and Aston Martin will work together in manufacturing and engineering. William Ding, co-founder of Letv’s car division, revealed that apart from the substantial capital cooperation, the two parties will also enhance their cooperation in technology, engineering, and service sectors.
China Tech News — China Unicom and Telefonica will establish a joint venture named Smart Steps Digital Technology Co., Ltd for big data services. China Unicom will hold a 55% stake in the joint venture while Telefonica will hold the remaining 45%. They will operate and manage the joint venture in accordance with the market mechanism. Total investment in the venture was not released.