Europe’s telcos want U.S. tech giants to help fund network costs

The call by the CEOs comes as the telecoms industry faces massive investments for 5G, fibre and cable networks to cope with data and cloud services provided by Netflix and Google's YouTube and Facebook.

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.

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The call by the CEOs comes as the telecoms industry faces massive investments for 5G, fibre and cable networks to cope with data and cloud services provided by Netflix and Google's YouTube and Facebook.