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ZTE signs deal with Telecom Egypt
(Shenzhen Daily)
Updated: 2005-11-30 09:23
ZTE Corp. (SHA: 000063; HK: 0763) has signed a contract with Telecom Egypt,
Egypt’s largest fixed network operator, to construct a 100,000-line code
division multiple address (CDMA) wireless local loop (WLL) network in Egypt.
The Shenzhen-based telecom equipment maker announced the deal Tuesday.
The project will expand Telecom Egypt’s existing CDMA WLL network, built by
ZTE last year to cover the Nile River Delta.
ZTE will supply a complete set of 800M CDMA WLL equipment for the new
network, including CDMA core network equipment, CDMA access network equipment
and radio terminals.
The new network will also cover 16 districts in Cairo, improving
communication quality and data services in Egypt’s densely populated capital.
“ZTE’s Internet protocol (IP) CDMA platform can greatly add value to Telecom
Egypt’s network,” said Dawlat El Badawi, vice chairman of Telecom Egypt.
Nine major shareholders of ZTE had proposed to offer 2.3 non-circulating
shares for every 10 A shares held by domestic shareholders as part of a State
share reform plan, ZTE said Nov. 14.
ZTE said the shareholders, which hold 497.32 million non-circulating shares,
or 51.83 percent of the company’s registered share capital, did not have any
plans to provide similar compensation to holders of Hong Kong-listed H shares.
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