Wall Street Journal

Facebook’s investment in an enormous underwater internet cable circling Africa will move forward with help from partners in China, Saudi Arabia and Europe. The 2Africa internet project, called Simba in its planning phase, would link 16 African countries with cable routes to Europe and the Arabian Peninsula. The 2Africa system would involve a massive investment even by Silicon Valley standards.

Rural broadband provider Windstream Holdings Inc. is closer to exiting from chapter 11 under a proposal that would allow hedge-fund manager Elliott Management Corp. and other investors to buy the bulk of the company’s equity out of bankruptcy while wiping out most junior debt.