Nortel wins major contract

[dArKeR]

Nortel Networks Corp. has won a major contract to supply Orange, a mobile-phone subsidiary of France Telecom, in a deal that could be worth as much as one billion euros.

Le Earlier reports suggested the Orange sale, which would translate to between $1.3-billion (Canadian) and $1.5-billion, was settled last week to provide part of the infrastructure of Orange's third-generation wireless network. This news follows a $1-billion (U.S.) mobile-technology contract between Nortel and Verizon in the United States.

http://theglobeandmail.com/servlet/story/RTGAM.20030916.wbnortel0916/BNStory/Business/

[mhr]

1. Good News For Nortel

But it won't help the US much.

Nortel is a Canadian company.

Nortel also consolidated almost all of its North American resources in Canada, closing many of its US offices.

The Nortel buildings here in North Dallas are largely empty and I understand are up for lease.