Investors wipe $3 billion off China’s ZTE market value after U.S. settlement

A sign of ZTE Corp is pictured at its service centre in Hangzhou, Zhejiang province, China May 14, 2018. REUTERS/Stringer

HONG KONG (Reuters) – 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 […]

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