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Alcatel in $1 bil deal in India

The telecom equipment maker won an 8-year contract, valued at more than $1 bil, to manage mobile and fixed networks for India's Reliance Communications. The contract, intended to cut costs for India's 3rd largest carrier, expands a previous 5-year, $750 mil joint venture between Alcatel-Lucent (ALU) and Reliance under which the gear maker managed Reliance's mobile network. About 4,000 people or roughly 15% of Reliance's workforce will move to Alcatel-Lucent. Its shares fell 0.6% to 1.65.