Alcatel-Lucent, Verizon Sign $6 Billion Deal
Telecom equipment maker Alcatel-Lucent signed a $6 billion (4.52 billion euro) contract with Verizon Wireless on Monday to help the U.S.-based mobile phone service provider expand its network and offer new services.
The three-year deal calls for Paris-based Alcatel-Lucent to supply equipment, software and additional services for improvements at Verizon Wireless, a joint venture between Verizon Communications and Vodafone Group that is based in Basking Ridge, New Jersey.
Work by Alcatel-Lucent will allow Verizon Wireless to increase the coverage and capacity of its high-speed network and introduce new services such as Voice over Internet Protocol and mobile video telephony, the companies said.
Shares of Alcatel-Lucent jumped 5.2% to 9.15 euros ($12.16) in Paris trading.