Tritel Australia has signed an agreement with investment holding company GPG Group to provide payphone services to the group's shopping centres, parent company Reverse Corp Limited (ASX: REF) announced on Friday.
Reverse Corp has also signed an agreement with Hutchinson 3G UK Limited to have its reverse-charges service, known as 1800-Reverse in Australia and 0800-Reverse in the UK, offered on Hutchinson's mobile services.
The service will commence on 5th of June 2008.
Reverse Corp's shares, which had taken a beating in the past week with a decline in value of around 25 percent, showed signs of recovering based on the news.
The stock grew on Friday from a low of about $1.50 a share to around $1.65 a share following the announcement.