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7/13, 6:54 PM (Source: TeleTrader.com)
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ZTE H YC+1.97%

1.550
Chart for: ZTE CORP. H          YC 1

US ends ban on sale of components to ZTE

The United States Department of Commerce said on Friday that ZTE Corp. has paid the agreed $1 billion fine and put $400 million in an escrow account as agreed, enabling the removal of a ban on the sale of parts to it. The struggling Chinese telecommunications giant will be able to purchase components from companies based in the United States after the punitive measures effectively froze its operations.

ZTE was removed from the so-called denied persons list, the government said.

Breaking the News / IT