Great contract for Nortel.
Monday March 1, 8:08 pm Eastern Time
Nortel to supply MCI Worldcom's
Asian thrust
TORONTO, March 1 (Reuters) - Canada's Northern Telecom
Ltd (Toronto:NTL.TO - news) (NYSE:NT - news), one of the
world's largest communications companies, unveiled a 20-month
deal to supply equipment to MCI WorldCom Inc. (Nasdaq:WCOM - news) on Monday.
The deal did not disclose financial details.
Nortel Networks will supply equipment ranging from switches, optical networking gear and network
management tools to access platforms, it said.
MCI WorldCom, which provides long-distance phone and Internet access, has announced a big
push in Asia. One source close to the deal, who refused to be identified, placed the investment near
$6.5 billion.
An analyst, who declined to be identified, said Nortel's slice of the pie was modest at best.
''Any growth, by MCI, either offshore or domestically, would include some contracts to Nortel,'' he
added. ''Nortel will be one of those vendors who will partake in that growth.''
Nortel shares rose C$1.20 to close at C$89 on Toronto's stock market on Monday.
Neil |
