Microsoft, Facebook to build transatlantic subsea cable

(Reuters) - Microsoft Corp and Facebook Inc have agreed to jointly build a subsea cable across the Atlantic Ocean to meet growing demand for high-speed cloud and online services. The 6,600 kilometer cable, the first to connect the United States with southern Europe, will be operated and managed by Telefonica SA's telecoms infrastructure unit Telxius. The move comes nearly two years after Google Inc, which is now Alphabet Inc, agreed with five Asian companies to invest about $300 million to devel