3GScottishUser
6th December 2005, 11:28 AM
From Dow Jones Newswires (06/12/2005):
Ericsson AB said Tuesday it has won an exclusive contract to run the network and IT infrastructure of Hutchison Whampoa's third- generation U.K. operator, 3.
The financial terms of the seven-year deal were not disclosed, but Ericsson said it's the largest managed-services contract it has ever signed.
The news sent share of the Swedish telecommunications-equipment provider ( ERICY) up more than 3%. Trading in Ericsson shares had been halted on the Stockholm stock exchange shortly before the statement.
Ericsson also said it will ensure the maintenance of 3's existing 6,300 radio sites and the management of the core network and operations center.
"Over one thousand 3 employees from the network and IT functions will be transferred to Ericsson," it said.
Ericsson has managed-services partnerships already in place with 3 in Australia and Italy. This new contract delivers further synergies for both parties, Ericsson said.
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20051206
Ericsson AB said Tuesday it has won an exclusive contract to run the network and IT infrastructure of Hutchison Whampoa's third- generation U.K. operator, 3.
The financial terms of the seven-year deal were not disclosed, but Ericsson said it's the largest managed-services contract it has ever signed.
The news sent share of the Swedish telecommunications-equipment provider ( ERICY) up more than 3%. Trading in Ericsson shares had been halted on the Stockholm stock exchange shortly before the statement.
Ericsson also said it will ensure the maintenance of 3's existing 6,300 radio sites and the management of the core network and operations center.
"Over one thousand 3 employees from the network and IT functions will be transferred to Ericsson," it said.
Ericsson has managed-services partnerships already in place with 3 in Australia and Italy. This new contract delivers further synergies for both parties, Ericsson said.
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20051206