Canada
Newbridge Networks Corp. said the holders of its common shares, options and warrants have approved the plan of arrangement involving its merger with Alcatel S.A. Before the merger can close, it must be approved by Alcatel shareholders as well as receive a final order from the Ontario Superior Court of Justice and other regulatory approvals and customary closing conditions. The court hearing to obtain the final order is scheduled to take place on or about May 23, said Newbridge.
Morocco
Nokia Corp. signed a frame agreement to supply a Global System for Mobile communications 900 network expansion to Maroc Telecom, a mobile telephony operator in Morocco. Under the agreement, Nokia will provide Maroc Telecom with base stations, base station controllers, Nokia Network Management Systems and Nokia Short Message Service Centers to bring increased capacity to network areas in Casablanca, Rabat and northwestern Morocco. Nokia reported the contract is valued at more than $54.8 million.
United Kingdom
L.M. Ericsson was selected as the principal supplier of third-generation infrastructure for Vodafone plc’s 3G rollout in the United Kingdom. The network, based on wideband Code Division Multiple Access technology, will be operational in 2002.
Italy
The boards of Olivetti and Tecnost agreed to complete a merger by the end of May as part of Telecom Italia’s reorganization plan. Olivetti controls Telecom Italia through Tecnost, which it used as the acquisition vehicle to acquire the 55-percent controlling stake. A decision from the boards is expected May 27. Tecnost said Arthur Andersen will advise on the merger, which seeks to simplify the structure of the telecom group. It would transfer the Telecom Italia stake to the combined company and more quickly reduce the heavy debts incurred in last year’s Telecom Italia takeover. Roberto Colaninno, Olivetti’s and Telecom Italia’s chief executive, abandoned last year the first restructuring plan that involved transferring Telecom Italia’s controlling stake in Telecom Italia Mobile to Tecnost.
