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BRIEF-ZTE Corp says reaches settlement with U.S. authorities
March 7, 2017 / 3:27 PM / 5 months ago

BRIEF-ZTE Corp says reaches settlement with U.S. authorities

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March 7 (Reuters) - ZTE Corp:

* ZTE Corporation reaches settlement with U.S. Authorities

* ZTE has agreed to a criminal and civil penalty of $892.36 million

* BIS to recommend ZTE be removed from entity list, conditioned on court approval of DOJ agreement, entry of plea, issuance of BIS’s settlement order

* Agreed to additional penalty of $300 million to BIS that will be suspended during 7-year term based on certain conditions Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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