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ZTE confirms Cisco has halted equipment deal
SHANGHAI |
SHANGHAI (Reuters) - ZTE Corp, China's second largest telecom equipment maker, said on Tuesday that Cisco Systems has terminated its agreement with the company, confirming an earlier Reuters report.
ZTE said in a statement filed on the Shenzhen stock exchange that the U.S. company had terminated the agreement involving equipment sales in July, but added that the move will have little impact on its business.
On Monday, sources told Reuters that Cisco has ended a longstanding sales partnership with ZTE after an internal investigation into allegations that the Chinese telecommunications equipment maker sold Cisco networking gear to Iran.
(Reporting by Kazunori Takada; Editing by Anne Marie Roantree)
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