Alcatel-Lucent Announces $1.1B of China Deals

Shares of Alcatel-Lucent were last up 2.2% to €5.20, on an announcement the company has formally signed a package of agreements with China Mobile and China Unicom, worth a combined total of €750M ($1.1B). Some of the agreements were previously disclosed, but specific details were not provided. Alcatel-Lucent will supply network equipment valued at €600M to China Mobile and €150M to China Unicom. In May, Alcatel-Lucent said it signed a $340M deal with China Mobile and a $120M deal with China Unicom. China Mobile recently said it gained a record 6.6M new subscribers in the month of October (total 356.3M), while China Unicom added 1.5M subscribers for a total of 117.1M (full story). Chinese President Hu Jintao and French President Nicolas Sarkozy participated in a formal signing ceremony in Beijing. NYSE-listed Shares of Alcatel-Lucent gained 2.6% to $7.56 on Friday.

Sources: Press release, Dow Jones, MarketWatch
Commentary: Alcatel-Lucent Takes Q3 Loss, Will Cut Another 4,000 Jobs • WiMAX Industry Struck By Sprint/Clearwire Deal Blowup
Stocks to watch: ALU, CHL, CHU. Competitors: NT, ERIC, SI, CSCO. ETFs: BDH
Earnings call transcript: Alcatel-Lucent Q3 2007

Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.