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Sprint signs 2 $1B pacts
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June 27, 2001: 2:46 p.m. ET
Lucent and Nortel to help expand #3 long-distance carrier's wireless network
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NEW YORK (CNNfn) - Sprint Corp. signed separate $1 billion agreements Wednesday with Lucent Technologies and Nortel Networks that will expand its national wireless network.
Lucent agreed to a three-year deal to supply equipment and services and Nortel (NT: down $0.03 to $8.32, Research, Estimates) agreed to extend its current five-year relationship to supply wireless network equipment and professional services.
The Lucent (LU: down $0.11 to $5.89, Research, Estimates) agreement is part of Sprint's next developmental phase to expand its nationwide wireless network, the company said.
"Nortel Networks and Sprint PCS have a long-standing relationship in not only optimizing technology, but speeding delivery of new, innovative wireless services for our subscribers," Sprint PCS (PCS: up $0.04 to $22.19, Research, Estimates) senior vice present Dennis Huber said.
Kansas City-based Sprint (FON: up $0.11 to $20.71, Research, Estimates) is the nation's third-largest long-distance telephone company. 
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