Public Mobile signs $350 million deal with ZTE Corporation

New entrant Public Mobile is on a tear recently. Over the past few days they  successfully launched their service in Toronto and on Friday they will follow up with going live in Montreal. In addition, last week they announced a partnership with Gateway Newstands that sees their phones in 152 Toronto locations. All sounds good… and today it’s getting 350 million times better.

During the wireless auction Public Mobile only spent $53 million and captured a reach of 19 million potential customers that stretches from Ontario to Quebec. Today Public Mobile, ZTE Corporation and the Export-Import Bank of China announced a $350M financing deal that will help them completely build out their network. The official signing of the deal will be taking place at 4:30pm today in Ottawa with Peter Van Loan, Canada’s Trade Minister.

In a press release Alek Krstajic, CEO of Public Mobile said “This is a significant deal for both Public Mobile and ZTE. We chose to work with ZTE because of their expertise in technology and commitment to financing. ZTE provides the world’s top mobile operators with high-quality and high-capacity network performance.”

There is one thing that is for sure – we’ll be seeing more ZTE devices on the shelves of Public Mobile stores.
Congrats to everyone at Public Mobile!