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AT&T Gets $1 Billion GM Contract

The networking deal is one of the largest in the telecom giant's history.


(T) - Get AT&T Inc. Report

received a global networking contract from

General Motors

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(GM) - Get General Motors Company (GM) Report

worth nearly $1 billion over five years.

The agreement marks one of the largest commercial contracts in the telecom giant's history, AT&T said Wednesday.

Under the agreement, AT&T will provide telecommunications, information technology and network-integration services, covering all of the automaker's worldwide telecommunications infrastructure.

Shares of AT&T recently were up 2 cents to $37.38. GM shares were down 42 cents to $35.53.