ZTE is almost done meeting the US' conditions for lifting an export ban... almost. The Chinese mobile and telecom gianthas signed an escrow agreement with the Commerce Department that represents the last major hurdle before it can get back to business as usual. As soon as ZTE deposits $400 million into the escrow, the US will let ZTE use American exports under a 10-year suspended denial order. The company's temporary waiver ends on August 1st, so you can expect the money to arrive within a couple of weeks.
Source: Bloomberg
ZTE clears last major hurdle to lifting US export ban posted first on https://www.engadget.com
No comments:
Post a Comment