China funds ZTE's expansion in Czech Republic

ZTE  has just completed a Buyer's Credit Facility arrangement for the Czech Republic's fourth largest mobile network operator, MobilKom. This is the first time that a Chinese finance has funded a telecoms project in the Republic and the first time a CDMA2000 1xEV-DO Rev.A network has been commercially deployed in Europe.

The China Development Bank has provided the operator with a €19 million buyer's credit facility. Although the agreement was signed late last year, it ha only just been made public.

Zhang Fan, Managing Director of ZTE Global Finance Centre said in a statement, 'With an established reputation in the financing market, ZTE has developed long-term strategic partnerships with several international and Chinese financial institutions, further strengthening business bonding and enhancing partnerships with our customers.'

This is another milestone in ZTE's ambitious expansion in the European market. At the end of February ZTEsoft, a subsidiary specialising in telecoms IT system software, signed agreements in Europe with consulting company ATOS Origin.

The ZTE subsidiary's flagship product, ZSmart BSS/OSS, has generated considerable interest in the market. Under the ATOS partnership agreement, the companies will jointly manage market bids and implement projects, with the aim of establishing ZTE's ZSmart series of software solutions in Europe.