Telecom New Zealand signed a $100 million agreement to have telecom-equipment maker Lucent ( LU) manage its 027 CDMA mobile network.

The agreement with Lucent is for five years. Lucent, through its Lucent Worldwide Services division, will be responsible for the network planning, design, deployment, support and overall management of Telecom's 027 CDMA network. Lucent built and deployed the CDMA network for Telecom New Zealand 18 months ago.

Shares of Lucent were up 8 cents to $2.21 before the opening bell on Instinet. The stock closed at $2.13 Wednesday on the New York Stock Exchange.