Lucent Signs Deal to Supply Optical Equipment to Deutsche Telekom

Lucent (LU Quote - Cramer on LU - Stock Picks) signed an agreement to supply Deutsche Telekom (DT Quote - Cramer on DT - Stock Picks) with transmission systems for the German company's global optical network.

The Murray Hill, N.J., telecom gear maker said on Wednesday that the financial terms of the multiyear deal aren't being disclosed.

Deutsche Telekom is investing in the Telekom Global Net project as part of its strategy to offer a seamless global service to its customers. In Europe, the project will connect Germany to Austria, the Netherlands, the U.K., France, Italy, Switzerland, Belgium and eastern European countries. A network is also being built in the U.S. and Canada.

Shares of Lucent gained 30 cents, or 2.7%, to $11.50 in recent New York Stock Exchange trading, while Deutsche Telekom fell 96 cents, or 4.1%, to $22.28.