Nera signs US$22m contract with Philippines' Globe Telecom

By Bloomberg, Singapore.CNET.com
Tuesday, May 22, 2001 02:41 PM
SINGAPORE--Nera Telecommunications Ltd, a Singapore-based maker of phone components, has secured a contract worth US$21.7 million from Globe Telecom Inc of the Philippines to help expand its mobile phone network.

The project is part of Globe's expansion plan. Globe, the Philippines' second-largest mobile-phone company, has invested in three projects worth about US$27 million with Nera since last year.

"By expanding our existing partnership with Nera, we will be able to provide our customers with higher network capacity for faster voice and data transmission," said Gerardo Ablaza Jr, president and chief executive of Globe, in a statement.

Globe, a joint venture of Ayala Corp and Singapore Telecommunications Ltd, is the lead provider in the country's fast-growing market for digital mobile phone services.

The Philippine company said last month it's spending US$750 million this year for network expansion to catch up with Smart Communications Inc, the nation's biggest mobile phone provider.

Nera's shares have risen 12 percent so far this year.


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