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 […]

US extends ZTE’s sanctions relief until March 29

By Karen Freifeld NEW YORK, Feb 23 : Chinese telecom equipment maker ZTE Corp has been granted a new reprieve from export restrictions imposed on the company by the US government. In an online posting today, the US Commerce Department extended ZTE’s temporary export license until March 29. The extension allows US firms to continue […]