Chinese telecom equipment maker ZTE has announced that its South African subsidiary has won a three-year $378m contract from mobile operator Cell C and its controlling shareholder Oger Telecom.
Under the network supply and managed services deal, ZTE Corporation South Africa will provide GSM/UMTS network turn-key solutions and operations services to Cell C. It will also provide product sales and engineering services.
In December, Cell C chief executive Lars Reichelt announced the company's plans to invest ZAR 5 billion ($667m) on network expansion to bolster its internet offerings. Cell C's rival MTN also announced ZAR 7.5 billion ($1 billion) network investment last year.
Last month, the E-Plus Group and KPN Group Belgium selected ZTE to supply HSPA-enabled 3G equipment for further expansion and technical upgrade of their mobile networks.
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| Direxion Developed Markets Bear 3X Shares | DPK | 10 |
| ProShares UltraShort MSCI EAFE | EFU | 10 |
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