China Development Bank Finances Huawei, ZTE Deals in India

Sina Tech, 12/17/10

Indian telecom operator Reliance Communications (RCom) recently announced that it has received USD 1.93 bln in financing from China Development Bank for 3G network construction, up to USD 600 mln of which will be used to procure telecom equipment from Chinese firms Huawei and ZTE (0763.HK; 000063.SZ). Reliance said USD 1.33 bln will be used to repay 3G spectrum license fees.

Reliance acquired 3G network licenses for 13 of India's 22 telecommunications regions early this year. ZTE won supply contracts for eight regions, while Huawei won contracts for the other five.

Keywords: foreign operator overseas mobile network equipment Reliance Communications financing spectrum wireless network construction 000063.SZ 0763.HK Huawei ZTE China Development Bank 3G India procurement supply contract government support

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily