Troubled network equipment maker Lucent (LU) was up 10% in midafternoon trading.

The company this morning announced it had signed a four-year contract worth more than $150 million with

Saudi Telecom

to expand its wire-based telephone network.

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Lucent, which has a 1,500-person workforce in Saudi Arabia, will supply remote access equipment, upgrade the network's switching capability and enable broadband services.