Everything Everywhere Sets Out $2.4 Billion U.K. Mobile Web Plan

Everything Everywhere, the U.K. mobile-phone venture of France Telecom SA and Deutsche Telekom AG, will invest more than 1.5 billion pounds ($2.4 billion) over three years to build a faster mobile Internet network. The company will start making the investment before an auction for the essential frequencies, Chief Executive Officer Olaf Swantee said. The U.K. government has delayed the auction, which is now scheduled for the end of 2012.