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Investors wipe $3 billion off China's ZTE market value after US settlement

Investors wipe $3 billion off China's ZTE market value after US settlement

6 years ago
Anonymous $roN-uuAfLt

https://www.cnbc.com/2018/06/13/investors-wipe-3-billion-off-chinas-zte-market-value-after-us-settlement.html

Chinese telecommunications giant ZTE Corp had about $3 billion wiped off its 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 a seven-year supplier ban was imposed on the company in April for breaking a 2017 agreement reached after it was caught illegally trading with Iran and North Korea.

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