China's ZTE to pay over $800 mln to settle with US over Iran sales

By REUTERS
March 7, 2017 16:47
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NEW YORK - China telecom equipment maker ZTE Corp has agreed to pay more than $800 million to settle with US authorities over allegations it violated U.S. laws restricting the sale of American-made technology to Iran, according to a person familiar with the matter.

The US Department of Commerce is expected to announce the agreement on Tuesday, the person said. The person did not want to be identified because the settlement is not yet public.

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