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Nortel, Ofek Join on Israeli Network

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TEL AVIV, Nov. 8 -- Nortel Networks and Israel's Ofek New World have signed an agreement that makes Nortel a preferred supplier for building a new Israeli communications network based on Internet protocol. Financial details were not disclosed although Israel's Globes financial newspaper estimated it was worth $700 million. Ofek New World, a wholly owned subsidiary of Eurocom Communications Ltd, said at a news conference that the company and its partners plan to invest $1 billion in the project over the next few years if approved for a license by the government. Israel's government...Read full article

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    Published: November 2000
    CommunicationsNews & Features

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