CenturyLink buys Level 3 in big telecom tie-up

US telecom group CenturyLink announced Monday it was acquiring Level 3 Communications for $34 billion including debt, boosting its position as a global internet and fiber communications provider.

China Mobile reports 2008 net profit up 30 percent

China Mobile, the world's largest mobile phone network operator, said Thursday its profits jumped by 30 percent last year, but warned China's telecoms market faced a tough 2009.