Verizon, Nortel sign $1-billion (U.S.) pact

[dArKeR]

Verizon Wireless said Wednesday it has struck a $1-billion (U.S.) deal with Nortel Networks Corp. to expand and upgrade its wireless infrastructure.

Under the agreement, Nortel will act as primary supplier for Bedminster, N.J.-basedVerizon's wireless network equipment in the United States.

Verizon Wireless, which is owned by Verizon Communications and Vodafone Group PLC, said it plans to expand and upgrade radio base stations, switching, Internet protocol platforms, and other related equipment from Nortel Networks in key markets including San Diego, Los Angeles, Las Vegas, Detroit, Atlanta and Cleveland.

http://theglobeandmail.com/servlet/story/RTGAM.20030903.wbnortel0903/BNStory/Business/

[ixion]

1. wow, that sounds like an ill-fated deal

Neither one of those companies are in great shape, and neither are known for delivering what they promise to. Should be interesting to see how that shapes up.

[Donny247]

2. I love it!!

My Nortel stock is shooting through the roof!! I was screwed when Nortel went from $120 to $10 (where I bought in) and then to less than $1 (where I bought more). Now she's back up $4.75 and rising fast! Now if only we could get a Democrat back in, I could actually feel good about profiting from the stock market.