ZTE bags 1 bn euro deal from Dutch telecom firm Royal KPN

Chinese telecom equipment maker ZTE has bagged 1 billion euro deal from the German arm of the Netherlands-based Royal KPN for offering managed services, according to sources.
Under the 5-year deal, ZTE will deploy and manage 2G, 3G and 4G network for KPN in Germany, sources close to the development said.
When contacted, a ZTE official declined to comment.
Earlier, European firm Alcatel-Lucent was managing the network for KPN.
The Chinese firm bagged the contract through its wholly- owned subsidiary ZTE Gmbh, sources said.
The company has already started working on the contract and an official announcement is expected to be made soon, they added.

ZTE, which has revenues of about 84.2 billion RMB (financial year 2012), works with operators like Telenor and Hutchison 3G in Europe.
Globally, it provides products and services to more than 500 operators in over 160 countries.
One of Netherlands largest provider of telecom and IT services, KPN employs about 30,000 people and has a total of about 600,000 mobile and broadband customers.