Alcatel-Lucent Rallies On China Telecom Contract - Eric Savitz (Barron's)

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Alcatel-Lucent Rallies On China Telecom Contract
Aug 26, 2009 03:22 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
CHA	n/a
ALU	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

Alcatel-Lucent (ALU) shares are trading higher after the company said it has signed a “centralized purchasing contract” with China Telecom (CHA) to provide and maintain an IP backbone across 10 provinces, including Guangxi, Hubei, Jiangxi, Ningxia, Sichuan, Jiangsu, Guizhou, Gansu, Xinjiang and Shanghai.

The company said the contract is part of a $700 million framework agreement it had signed with China Telecom. Alcatel said it will deploy routers and switches to provide bandwidth to support offerings such as IPTV, Web TV, virtual private networks and 3G and 4G mobile.

ALU today is up 35 cents, or 10%, to $3.85.

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