ZTE, a global provider of telecommunications equipment and network solutions, has announced that it has finalised a Buyer's Credit Facility arrangement for MobilKom a.s., a leading trunking solutions provider in Czech Republic. As part of ZTE's expansion in the European market, this is said to be the first time that a telecom financing facility from China has been made in Czech Republic as well as the first time a CDMA2000 1xEV-DO Rev.A network has been commercially deployed in Europe.
MobilKom a.s., the fourth largest mobile operator in Czech Republic, collaborates with Penta Investments Group in offering services through its U:fon network.
China Development Bank, one of China's leading banks in financing infrastructure construction is financing EU€19 million to MobilKom a.s. for the buyer's credit facility arrangement. The agreement was signed late last year between MobilKom a.s. and China Development Bank, and is now officially made public.
"We are very delighted to see the first CDMA2000 1xEV-DO Rev.A network being commercially deployed in Europe," says Zhang Fan, Managing Director of ZTE Global Finance Center. "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 latest partnership between ZTE and MobilKom a.s. is expected to create mutual benefits for both companies. ZTE has been providing MobilKom a.s. technical support and through this financing scheme, will further aid the company in enhancing services to its subscriber base in Europe.