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

To: Souze who wrote (4390)	11/24/2000 5:14:54 AM
From: elmatador	Read Replies (1) \| Respond to of 5390

Siemens, Ericsson win 3G deal By Bertrand Benoit in Frankfurt Published: November 23 2000 20:33GMT \| Last Updated: November 24 2000 00:03GMT Siemens of Germany and Ericsson of Sweden have won a joint E1bn ($840m) contract with Mannesmann, the German unit of Vodafone, Europe's largest mobile telephone operator, to build its third-generation network in Germany. The contract, the second to be awarded by one of Germany's six 3G licence holders, will be a boost for the two groups amid fierce competition between infrastructure companies. The groups said they had each received a separate E500m order. Siemens will start by building a test network in Munich, while Ericsson will do the same in Dusseldorf, where Mannesmann is headquartered. The first elements of the networks should be in place by 2001 and the contracts are scheduled to run until 2002. Last month, Mobilcom, another German 3G licence holder, handed Ericsson a E1.6bn contract to build its network by 2002. The contract was the first whose financing had to be organised by the supplier, which was seen as an indicator of heightened competition between European and US infrastructure companies and of rising financial strains among operators.