iPad 4.2 Beta 2 Adds Tethering Settings
The latest iPad iOS 4.2 Beta 2 released yesterday appears to include new tethering options in the settings (pic via Paulgrav). According to 9to5Mac the options only appear on European carriers and does not yet appear on AT&T devices.
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http://www.macrumors.com/2010/09/29/ipad-4-2-beta-2-adds-tethering-settings/