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An entrepreneur's quest to use satellites to bring high-speed Internet service to poor, remote countries is nearing liftoff with a major investment from some big names, including Google Inc. the WSJ reports. On Tuesday, O3b Networks (named after "other three billion people") founded and run by 38-year-old telecommunications entrepreneur Greg Wyler, is expected to announce plans to launch as many as 16 satellites that could provide service to Africa, the Middle East and parts of Latin America by the end of 2010.

The undertaking, expected to cost about $650 million, has initial backing of about $60 million from investors that include HSBC Holdings PLC, Allen & Company, and Liberty Global Inc., in addition to Google.

Read full story: Wall Street Journal

Related topics: Broadband, Telecom