ZTE Corp may be required to pay over $1B to the U.S. government to resolve allegations of foreign bribery, Karen Freifeld and Sarah Lynch of Reuters reports, citing people familiar with the matter. It is not yet known when a deal might be reached, but a settlement with the U.S. would require approval from the Chinese government, sources added. A hefty settlement could weaken the company’s finances, but, without a deal, the U.S. could reinstate a Commerce ban on American suppliers. ZTE sources from Qualcomm (QCOM), Intel (INTC), AMD (AMD), and several other American firms.
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