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Technology Stocks : Nokia Corp. (NOK)

NOK 6.505

+0.1%

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To: carranza2 who wrote (702)	7/3/2001 8:22:04 PM
From: Eric L	Read Replies (1) of 9255

re: LU Still Financing CDMA Coffers running dry. There will not be much left for BSI. >> Brazil Telesp Cel Gets $221 mln in Financing July 3, 2001 Reuters Brazilian mobile phone operator Telesp Celular said on Tuesday that it had signed two financing contracts with Lucent Technologies Inc. (NYSE:LU) and Motorola Inc. (NYSE:MOT) together worth 520 million reais ($221 million) to expand and modernize its network. Telesp Celular, controlled by Portugal Telecom and operator of a vast mobile network in Brazil's populous Sao Paulo state, plans to use the funds to upgrade its network for high speed data transmission services, said Gilson Rondinelli, a Telesp Celular's vice president. Rondinelli said the contract with Lucent was worth 335 million reais while the Motorola contract was valued at 185 million reais. Telesp Celular plans to launch a new technology in October, which would be a step below so-called third-generation technology but would allow Telesp users to download music archives from the Internet and carry out more advanced wireless Internet operations, Rondinelli said. Telesp Celular shares nudged higher on Tuesday, gaining 0.6 percent to 14.61 reais. << - Eric -

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