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Technology Stocks : Nortel Networks (NT)

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To: Fun-da-Mental#1 who wrote (14521)	6/14/2006 5:08:20 AM
From: scratchmyback	of 14638

Seems that Nortel isn't doing too well in India... Nortel decides to sit out latest India deal Bert Hill Ottawa Citizen Monday, June 12, 2006 Nortel Networks has bowed out of a $5-billion U.S. expansion of wireless networks in India after losing heavily on a previous deal. Nortel was one of 18 companies that bought bidding documents for the expansion, but it did not submit a bid on the contract. “We decided not to participate in the system expansion after extensive dialogue with BSNL and a review of our near-term priorites,” Nortel spokewoman Ann Fuller said today. Ericsson, Nokia, Motorola and Siemens submitted bids along with ZTE, a Chinese equipment maker. Alcatel is expected to get a big piece of the deal through a separate alliance with ITI, an Indian company that will get an addition $1.6 billion U.S. in business. Nortel losses in its previous deal with BSNL, which is now wrapping up, came close to matching total revenues of $350 million U.S. canada.com

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