Nokia (NOK) - Get Nokia Oyj Sponsored ADR Report signed agreements worth up to $1.3 billion to serve as the third-generation mobile network supplier for operations associated with France Telecom (FTE) in the U.K., France and Germany.
Nokia will provide service for
in the U.K. and
in Germany. France Telecom owns all of Itineris and Orange. MobilCom, in turn, is 28%-owned by Orange.
Nokia will provide a $1.8 billion financing package for the development of the network.
Yesterday, Nokia reached a $900 million agreement with Australia's
Cable & Wireless Optus
to serve as that company's sole third-generation mobile network provider.
The American depositary shares of Nokia, which is based in Finland, fell $1.67, or 7.3%, to $21.26 in recent
New York Stock Exchange