China's ZTE will take 'certain actions' against U.S. ban

[April 25, 2018]  (Reuters) - China's ZTE Corp said on Wednesday it planned to take "certain actions" under U.S. laws following a ban by the U.S. government on American firms doing business with the company.

The U.S. Commerce Department's Bureau of Industry and Security earlier this month banned American companies from selling to ZTE for seven years, saying the Chinese company had broken a settlement agreement with repeated false statements.

The mobile phone and telecoms company said its shares will remain suspended on the Hong Kong exchange. It did not specify what actions it would take.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D'Silva)

[© 2018 Thomson Reuters. All rights reserved.]

Copyright 2018 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.