US lifts ZTE supplier ban, sending shares soaring

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BetaNews - https://betanews.com/2018/07/16/us-lifts-zte-ban/

Chinese telecoms hardware manufacturer ZTE has had something of a rough ride in the US recently, but having agreed to comply with all of the demands made by authorities, the ban on its US operations has been lifted. The US had banned American companies from supplying goods to ZTE, effectively crippling its business. Now, having paid $400 million into an escrow account — on top of its $1 billion fine last month — the company is operating again, and its Hong Kong-listed shares jumped 12 percent as a result. But the lifting of the ban is far from being the…

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