By Tova Cohen
PARIS (Reuters) - Israeli telecom equipment supplier ECI Telecom ECIL.O will take part in a project to deliver high definition television services for a major European telecommunications company, President and Chief Executive Rafi Maor said on Wednesday.
"ECI is taking part in a large project of 3 billion euros over three years by one of the major telecom companies in Europe where the main task of the project is to deliver high definition TV services over the network," Maor said at the Reuters Global Technology, Media and Telecoms Summit.
"We hope to take a substantial part in this business in the coming years," Maor said at the summit, held in Paris.
He declined to disclose the name of the European telecom company nor would he say how much of the project it had won but said that ECI was sharing the project with one other company.
ECI's shares were up 3.5 percent in morning trading on Nasdaq at $9.08, compared with a 52-week high of $9.45.
Last September Deutsche Telekom (DTEGn.DE: Quote, Profile, Research, Stock Buzz) announced plans to build a 3 billion euro fibre optic network that would offer transmission fast enough to broadcast high definition TV.
Maor also said that in order to grow substantially the company must have a presence in the United States.
"We will continue to be very active in Europe and we will continue to act in emerging countries ... but we are definitely assessing some acquisitions in the U.S. and the characteristic of this acquisition will be market share as opposed to technology in order to have some kind of leverage to enter into the U.S.," Maor said. Continued...
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