21 October 2011, Shenzhen, China – ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment and network solutions, today announced it has sold the entirety of its 51 per cent stake in Congo Chine Télécoms (CCT), the fourth-largest mobile operator in the Democratic Republic of the Congo, to France Telecom-Orange.

France Telecom-Orange will pay a preliminary price of $10 million (7 million euros) for the stake in CCT. Adjustments to that sum to reach a final transaction price will derived from the CCT’s 2011 financial statements and CCT’s financial data on the date of the completion of the sale.  

The transaction is in line with France Telecom-Orange's international strategy, which aims to stimulate growth by entering high-potential emerging markets. Today's announcement will enable France Telecom-Orange to strengthen its position in Africa. With 65 million inhabitants, the Democratic Republic of the Congo is the fourth most populated African country but has mobile penetration rate of only 17 per cent, considerably less than many neighbouring countries. The continued development of CCT, which holds a national mobile licence and has significant market share in certain regions of the country, offers real potential for growth over the next several years.

"We look forward to supporting the expansion of the CCT in the Democratic Republic of Congo as a long term partner of France Telecom," said Shi Lirong, ZTE President and CEO. “The deal will help us focus on our core business and avoid competition with customers in certain markets. It also will benefit the strategic relationship between France Telecom and ZTE.”

"The acquisition of CCT is an important step in our policy of expansion outside Europe, and contributes to our goal of doubling our revenues in Africa and the Middle East by 2015,” said France Telecom-Orange’s Chairman and CEO Stephane Richard. “Orange is already present in over 20 countries in the region and has built up considerable experience developing networks and new services specifically tailored to the needs of local markets. I am delighted that France Telecom-Orange will be in a position to provide our most innovative offers to the residential and business communities in the Democratic Republic of the Congo, a promising economy endowed with vast natural resources.” 

In September 2011, ZTE and Telkom Kenya-Orange, a subsidiary or France Telecom, introduced commercial use of the country’s fastest Uni-RAN-based HSPA+ network in Nairobi. The network allows Kenyans access to high-speed wireless with a download rate of up to 21Mbps.