Spanish phone company Telefonica (TEF) is poised to award Alcatel-Lucent (ALU) an order to build...

|By:, SA News Editor

Spanish phone company Telefonica (TEF) is poised to award Alcatel-Lucent (ALU) an order to build a nationwide high-speed wireless network as it seeks to win back customers lost to rival operators, Bloomberg reports. Analysts say TEF may need to spend €300M ($394M) to build the LTE network to cover ~65% of the Spanish market. ALU +1.4% premarket.