A Microsoft logo is seen on an office building in New York City in this July 28, 2015. PHOTO: REUTERS
The construction of the new "MAREA" cable will begin in August and it is expected to be completed in October 2017, the companies said in a statement on Thursday.
The 6,600 kilometer cable, the first to connect the United States with southern Europe, will be operated and managed by Telefonica SA's telecoms infrastructure unit Telxius.
Microsoft to end smartphone manufacturing
The cable is initially designed to carry 160 terabits of data per second, the companies said.
The move comes nearly two years after Google Inc, which is now Alphabet Inc, agreed with five Asian companies to invest about $300 million to develop and operate a trans-Pacific cable network connecting the United States to Japan.
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