ZTE’s controlling shareholders plan on selling upto 3% shares

Chinese telecom company ZTE Corp had been subject to U.S. sanctions. Its controlling state-owned controlling shareholder Zhongxingxin Telecom plan on selling as much as 2% of its shares once the stock has doubled its value. According to regulatory filing, the controlling stakeholders of China’s ZTE Corp’s plan to slash their stake, by as much as…

Canada likely to approve extradition of Huawei’s CFO to the U.S.: legal experts

Canada has until midnight on Friday (0500 GMT Saturday) to announce its decision. On Friday, in a potentially significant development, Canada is expected to announce that the extradition hearing against Huawei Technologies Co Ltd’s Chief Financial Officer can proceed, opined legal experts. In December 2018, Canadian police had Meng Wanzhou, Huawei’s CFO in Vancouver at…

Huawei Device Co Ltd & Huawei Device USA Inc to be arraigned on Feb. 28, 2019

Huawei faces gale force headwinds with intelligence agencies linking its telecom devices as potential Trojan Horses which can be tapped by Chinese intelligence. According to information available in court filings, two units of Huawei Technologies Co Ltd are set to be arraigned on February 28 in Seattle on a 10-count indictment on charges of conspiring…

U.S. launches formal charges against Huawei Technologies Co., Ltd & CFO Meng Wanzhou

The charges will test Beijing’s ability to compartmentalize the alleged violations of sanctions on Iran by Huawei from the ongoing trade negotiations. In a development of far reaching implications for U.S.-China bilateral relations, the United States has charged Huawei Technologies Co Ltd with criminal conspiracy to violate U.S. sanctions on Iran. The U.S. Justice Department…