Wednesday, October 17, 2012

Chinese Communications Equipment Maker ZTE Cuts Connection with Surveillance Equipment Maker ZTEsec

Chinese telecoms kit maker ZTE has sold its majority stake in ZTE Special Equipment (ZTEsec) – a company that sells surveillance systems.

The under-fire Shenzhen-based firm said in a little-publicized filing with the Hong Kong Stock Exchange at the end of September that it would “dispose of its 68 per cent equity interests” in ZTEsec. (more)

Apparently not in time to impress Congress. (pdf of report)