Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Naveen Kumar who wrote (4713)	2/7/2000 4:32:00 AM
From: Paul Lee	Read Replies (1) \| Respond to of 14638

Italy's BLU Signs Estimated US$138 Million Wireless Deal With Nortel Networks IP-Based GSM Network to Put New Operator at Forefront of Wireless Internet Revolution PARIS, Feb. 7 /PRNewswire/ - BLU S.p.A. has signed a contract with Nortel Networks (NYSE/TSE: NT) worth an estimated US$138 million (EUR 135 million) over 18 months - and potentially an estimated US$500 million over five years - for a nationwide digital wireless network that will position Italy's fourth GSM operator, chaired by Professor Giancarlo Elia Valori, to the forefront of the Wireless Internet revolution. A breakthrough win for Nortel Networks in Europe's largest and most dynamic mobile market, the contract includes a turnkey GSM 1800 network with a packet-based, IP (Internet Protocol) backbone. Nortel Networks also expects to play a role in evolving the network to GPRS (General Packet Radio Service) and UMTS (Universal Mobile Telephone Service) for future, high-speed Wireless Internet services. This award gives Nortel Networks a strong foothold in a very important market,' said Matt Desch, president, Service Provider Solutions for Nortel Networks in Europe and Asia. ``BLU will soon be able to give Italians access to a high-performance Wireless Internet, ready to provide a wide range of exciting multimedia services.' BLU S.p.A. is the new mobile operator in Italy. The company has been formed by both leading Italian and international investors with the following shareholders: Autostrade (32%), British Telecommunications (20%), Mediaset (9%), Edizioni Holding (9%), Distacom (9%), Banca Nazionale del Lavoro (7%), Palatinus (7%) and Italgas (7%). Thanks to this synergy and to the contribution of systems and technology suppliers, a new offer of innovative and high quality services will soon be available for Italian customers. BLU is deploying its network to offer easy-to-use innovative basic and interactive services, promoting the image of an information society free from technological barriers. The technological challenge of BLU and its suppliers resides in the deployment of a traditional GSM 1800 network and its integration with third generation UMTS systems, where BLU intends to apply for a license.