Vodafone Idea Inks $3.6 Billion Network Deal With Nokia, Samsung

Vodafone Idea Ltd. has signed a $3.6 billion contract with companies including Nokia Oyj for the supply of equipment to the Indian phone carrier for a planned upgrade of its network.

Nokia, Ericsson AB and Samsung Electronics Co. will supply network gear over three years as Vodafone Idea seeks to upgrade its 4G services and introduce 5G in key areas, according to a statement to Indian stock exchanges. The deal marks the first step of the company’s three-year capex plan of as much as $6.6 billion, it said.