Chinese telecoms equipment maker ZTE Corp suspended trading in Hong Kong and Shenzhen on Tuesday pending an announcement after it was cut off from US suppliers and barred from doing business in the UK.
The US Department of Commerce’s Bureau of Industry and Security imposed a denial of export privileges on the Shenzhen-based company and the UK’s cyber security watchdog told British telecoms operators not to use ZTE equipment because its state ownership raises security concerns.
ZTE said it had suspended trading “pending the release of an inside information announcement in respect of the activation of denial order by the Bureau of Industry and Security of the United States Department of Commerce.”
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