Embattled ZTE proposes $10.7 bln credit proposal, new board

By Sijia Jiang HONG KONG, June 14 : Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban. The news, announced late on Wednesday, indicates China’s No.2 telecom equipment maker […]

Investors wipe $3 bln off China’s ZTE as US settlement sinks in

By Anne Marie Roantree and Sijia Jiang HONG KONG, June 13 : Investors wiped about $3 billion off embattled Chinese telecommunications giant ZTE Corp’s market value as it resumed trade on Wednesday after agreeing to pay up to $1.4 billion in penalties to the U.S. government. China’s No. 2 telecommunications equipment maker was crippled when […]

U.S. reaches deal to keep China’s ZTE in business -congressional aide

By David Shepardson and Karen Freifeld WASHINGTON, May 26 : The Trump administration told lawmakers the U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business after it pays a significant fine and makes management changes, a senior congressional aide said on Friday. U.S. President Donald Trump appeared to […]

ZTE tells suppliers China trade row may be factor in US ban – source

By Karen Freifeld NEW YORK, Apr 26 : China’s ZTE Corp held a conference call on Wednesday with major suppliers, during which a company representative suggested the trade dispute with Beijing may have been a factor in last week’s U.S. order banning American firms from selling goods to the smartphone maker, according to a person […]

China’s ZTE pleads guilty, settles US sanctions case for nearly $900 mln

By Karen Freifeld and Sijia Jiang NEW YORK/HONG KONG, Mar 8 : Chinese telecom equipment maker ZTE Corp has agreed to plead guilty and pay nearly $900 million in a U.S. sanctions case, drawing a line under a damaging scandal that had threatened its cut off its supply chain. While the fine was larger than […]