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Nortel wins wireless deal

Nortel Networks announced Tuesday that it will provide wireless gear to Telefonica Moviles, the wireless unit of Spain-based Telefonica, in a deal worth $250 million over three years. The equipment will upgrade the carrier's networks to UMTS (Universal Mobile Telecommunication System), which is so-called 3G, or third-generation technology, which can handle voice, data and wireless Internet traffic. Telefonica will start the installation of the gear in the second half of this year in its networks located in Spain and Germany. Nortel has also agreed to finance up to $230 million of the deal.

Nortel Networks announced Tuesday that it will provide wireless gear to Telefonica Moviles, the wireless unit of Spain-based Telefonica, in a deal worth $250 million over three years.

The equipment will upgrade the carrier's networks to UMTS (Universal Mobile Telecommunication System), which is so-called 3G, or third-generation technology, which can handle voice, data and wireless Internet traffic. Telefonica will start the installation of the gear in the second half of this year in its networks located in Spain and Germany. Nortel has also agreed to finance up to $230 million of the deal.

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