Chinese telecom equipment maker ZTE has announced that it has signed a five-year global strategic cooperation framework agreement with the leading Asian operator Axiata.
This agreement reportedly served as a procurement platform agreement, under which ZTE will supply communications products to Axiata and its subsidiary Opcos.
The five-year global strategic cooperation framework agreement aims to enhance the links and cooperation between the two parties. Based on the procurement platform, ZTE will create value in products, solutions, and services to save time and improve efficiency, so as to raise Axiata's business penetration. In addition, the agreement will improve the two parties' information exchanges concerning technologies, products and services in the procurement field; enhance Axiata's understanding of ZTE's technology development; and realize faster cooperation between the two parties.
ZTE also announced that it will again cut its stake in Nationz by selling four million shares at the average price of CNY24.75 per share. After this transaction, ZTE will still hold a 13.55% stake in Nationz.