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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (3495)	7/14/1999 8:26:00 PM
From: Sawtooth	Respond to of 5390

Wednesday July 14, 7:13 pm Eastern Time Brazil's Canbra to sign $200 mln Ericsson deal RIO DE JANEIRO, July 14 (Reuters) - Brazil's Canbra Telefonica SA, the mirror company of Rio de Janeiro's Telemar fixed telephone operator, said Wednesday it is about to sign a contract to buy equipment worth $200 million from Sweden's Ericsson . ''We are closing, in two or three weeks, a contract with Ericsson of about $200 million,'' Canbra President Gilberto Geraldo Garbi told journalists Wednesday, adding that the deal will mainly be financed by Ericsson. Garbi said that, last week, Canbra had reached a supply contract with Canada's Nortel (Toronto:NT.TO - news) worth $400 million, in addition to a deal worth $200 million for infrastructure work. He said that deals would largely be financed by Nortel. Canbra is formed by a consortium including Bell Canada (Toronto:BI.TO - news), Qualcomm (Nasdaq:QCOM - news) and Vicunha . He said the company will invest $1 billion over the coming three years. biz.yahoo.com