ZTE says it has not been notified of alleged U.S. bribery investigation

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FILE PHOTO: Individuals stroll previous a ZTE emblem exterior its sales space on the Cellular World Congress in Barcelona, Spain, February 25, 2019. Information/Sergio Perez

SHENZHEN, China (Information) – ZTE mentioned it had not acquired any discover from U.S. authorities after NBC Information reported on Friday that the Chinese language telecoms firm was the topic of a brand new bribery investigation.

ZTE mentioned its operations proceed as regular.

The NBC report mentioned the U.S. Justice Division was investigating whether or not ZTE paid international officers to realize benefits in its international operations.

“The Firm want to make clear that it has not acquired notices from the related authorities departments of the US on this regard,” it mentioned in a discover filed on the Hong Kong and Shenzhen inventory exchanges.

ZTE pleaded responsible in 2017 and paid almost $900 million to settle with the U.S. after an investigation discovered the telecommunications gear maker conspired to evade U.S. embargoes by shopping for U.S. elements, incorporating them into ZTE gear and illegally delivery them to Iran.

A 12 months later, the Trump administration barred U.S. corporations from promoting items to the corporate after it decided ZTE made false statements about disciplining 35 workers tied to the sanctions violations.

The ban was lifted in 2018 after the corporate paid a $1 billion penalty to the U.S. Treasury and put one other $400 million in escrow.

ZTE is the smaller rival to China’s Huawei Applied sciences, the world’s largest telecommunications gear maker.

Reporting by David Kirton. Modifying by Gerry Doyle