New India Contract for Ericsson

The deal is worth an estimated $1 billion.
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India's Bharti Airtel gave

Ericsson

(ERIC) - Get Report

a contract valued at an estimated $1 billion to expand and upgrade its GSM and GPRS network.

The three-year services agreement will see Ericsson manage the design, development and deployment of Bharti's network, including capacity and coverage, enabling the operator to expand in rural India and reach out to all towns and cities in 15 regions.

Ericsson is a long-term Bharti partner, managing more than 70% of its GSM and GPRS network in India.

Shares of Ericsson, a wireless infrastructure company based in Sweden, were up 74 cents, or 2.3%, to $32.31.