IBM has completed its long-awaited joint venture with Italian telecomms giant Stet, but the deal is a watered-down version of the original plan.
Instead of Stet becoming an equal shareholder in the IBM Global Network, which IBM announced as the plan 18 months ago, the companies will just jointly offer telecomms services to Italian and international clients.
The combined services will be offered through Stet's Telemedia International unit and IBM Global Services. They will include email, Internet services, telecomms network management, electronic data transfer and videoconferencing.
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