China's ZTE says it basically dropped Iran business

By Jason Subler BEIJING (Reuters) - ZTE Corp, China's second-largest telecoms equipment maker, has essentially stopped doing business in Iran after a U.S. investigation into alleged sales of embargoed equipment, the company's chairman told Reuters on Thursday. ZTE said in March 2012 that it would curtail business in Iran following a report by Reuters that it sold Iran's largest telecoms firm a powerful surveillance system capable of monitoring telephone and Internet communications. The company is now facing a U.S. criminal investigation over the issue. "We've basically stopped. ...

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