Huawei, Versatel Ink Deal for Fiber-Optic Network Solutions
November 24, 2006
Chinese Huawei announced on November 15 that it has signed a MOU (Memorandum of Understanding) in Beijing with Versatel, a German-based telecom. Under the agreement, Huawei will help Versatel construct fiber-optic infrastructure and deliver total solutions for Versatel by leveraging its IP (Internet Protocol) technology. This 30 million Euro (US$38.5 million; US$1=0.8 Euro) agreement, claimed to be Huawei's largest project in Germany, is expected to take at least one year.