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Airtel signs USD 1 billion deal with Nokia

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Market summary:

The Maltese market closed in the green on Monday, with the MSE total index ending the session 0.276% higher to 8,247.385 points. The best performer was Trident Estates plc with 14.81% surge to close at 1.55, followed by 3.00% jump of RS2 Software plc with closing price 2.06. Malita Investments and PG plc are also among the gainers, both increased 1.1% to close at 0.85 and 1.84 respectively. The biggest fall was seen from GO plc, it dropped 3.06% to close at 3.80, followed by 0.94% loss of Lombard Bank Malta plc with closing price of 2.10.

European stocks started the week higher, buoyed by news of falling Covid-19 infections across much of the European Union and moves to ease lockdowns in France, Germany, Italy and Spain. The Stoxx 600 sector gauge for Travel & Leisure rose by 4.75% on the back of the news, while that for banks was up 3.88%. German Dax finished 3.13% higher at 10,659.99, alongside a 2.55% gain for the French Cac-40 to 4,505.26.

Wall Street stocks traded higher on Monday as market participants reacted to news that several US states were already eyeing a phased reopening of economic activity. At the end of trading Dow Jones Industrial Average was up 1.51% to 24,133.78, while the S&P 500 was 1.47% firmer at 2,878.48 and the Nasdaq Composite finished the session 1.11% stronger at 8,730.16.

Airtel signs $1 billion deal with Nokia to boost network capacity

Finnish network equipment maker Nokia has secured a multi-year contract to boost the capacity of Bharti Airtel, one of India’s largest mobile operators.

The deal, which valued at almost $1 billion, will see Nokia deploy 300,000 new radio units across the country by 2022, boosting network capacity and preparing the ground for the move to next generation 5G, Nokia said in a statement.

With a population of 130 crores, India is the world’s second largest telecoms market, which Nokia predicts will grow to 92 crores unique mobile customers within five years as online demand soars.

The deal comes after a punishing six months for the Finnish networks giant after it downgraded its 2020 earnings forecast last October as attempts to break into the 5G equipment market faltered in the face of fierce competition from Huawei and Ericsson.

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.