Huawei signs MoU with Greek telco

Robert Clark
18 Jun 2010

Huawei Technologies has signed an MoU with Greek incumbent Hellenic Telecommunications Organization (OTE) for the supply of telecom equipment.

The agreement was one of 14 deals with hundreds of millions of euros signed between Chinese and Greek officials in Athens on Wednesday, Chinese website CCIDreported.

The deals climaxed a four-day visit by a delegation led by vice-premier Zhang Dejiang aimed at offering trade and investment deals to the stricken economy.

In the biggest of these, Greek shipowners ordered 15 new bulk carriers from COSCO Shipyards and developer BCEGI struck a $180 million deal to build a luxury tower and shopping mall, the Financial Times reported.

The construction of a new logistics center and possible investment in a new international airport were also discussed.

Financial terms of the deals were not disclosed. Huawei has existing credit lines from Chinese banks of up to $30 billion to help it secure foreign orders.

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