ZTE Corp: China Telecom CDMA Tender Still Underway
Published on: 20th Aug 2008
Note -- this news article is more than a year old.
BEIJING (Dow Jones) ZTE Corp.said in a statement Wednesday that a tender by China Telecommunications Corp. parent company of Hong Kong listed China Telecom Corp. for CDMA equipment is still underway and hasn't reached a conclusion.
ZTE also rejected a report in the 21st Century Business Herald on Tuesday that said Huawei Technologies Co. had won 70% of a CNY10 billion tender from China Telecommunications for CDMA equipment, with the remainder shared by ZTE and Alcatel Shanghai Bell, the China unit of Alcatel-Lucent.
"Any guesses about the result of the tender have no basis in fact," ZTE said in its statement.
China Telecom said last month its parent will invest CNY80 billion over the next three years in the CDMA network that it is acquiring from the parent company of China Unicom.
A China Telecom spokesperson declined to comment on the report in the 21st Century Business Herald.
-By Aaron Back, Dow Jones Newswires; (8610) 6588-5848; firstname.lastname@example.org
(END) Dow Jones Newswires