NZ's Telecom signs IP deal with Alcatel-Lucent

WELLINGTON, July 4 (Reuters) - Telecom Corp of New Zealand (TEL.NZ) said on Friday it had signed a NZ$130 million ($98 million) deal with Alcatel-lucent ALU.PA to build a new Internet Protocol (IP) phone network.

Telecom said the network would be completed in December 2009 and would bring voice, data and mobile services on to one technology platform.

Shares in Telecom, the top stock, last traded up 0.6 percent at NZ$3.30 after trading between NZ$3.25 and NZ$4.88 over the past 12 months.

(NZ$1=$1.32)