ECI has invested $35 million in parent company GVT Holding NV at $400 million value, after money.
InnoWave ECI Wireless Systems of the ECI Telecom group will supply Israeli-owned Global Village Telecom (GVT) of Brazil with $165 million in wireless communications equipment. The equipment will enable GVT to rapidly deliver advanced Internet, data and telephony services to hundreds of thousands of residential and business subscribers throughout the south and central Brazil area.
ECI Telecom is offering GVT long term financing. In conjunction, ECI Telecom has decided to invest up to $35 million in GVT's parent company, GVT Holding NV at $400 million value, after money.
InnoWave was awarded the wireless portion of the project. Bidding on other parts of the project are major communications companies Lucent, Cisco, Bosch, Siemens, and Nortel. The overall value of the project is estimated at $600 million.
Published by Israel's Business Arena on May 31, 2000.