Microsoft's PR group sent me the announcement of the new Atlantic cable project with Facebook. There is a race to wire the world and this is just one more step by a couple of the big players.
There is a blog entry. https://blogs.technet.microsoft.com/server-cloud/2016/05/26/microsoft-and-facebook-to-build-subsea-cable-across-atlantic/
Wired has some statement from Facebook. http://www.wired.com/2016/05/facebook-microsoft-laying-giant-cable-across-atlantic/