April 17, 2018 / 1:04 AM / a year ago

China's ZTE says assessing implications of U.S. decision

People stand at ZTE's booth during Mobile World Congress in Barcelona, Spain, February 27, 2017. REUTERS/Paul Hanna

HONG KONG (Reuters) - China’s ZTE Corp said on Tuesday it was assessing the implications of a U.S. decision to ban American companies from selling components to the Chinese telecom equipment maker.

The U.S. Department of Commerce has banned American companies from selling components to ZTE for seven years after breaking an agreement reached after it was caught illegally shipping goods to Iran.

The Hong Kong-listed shares of ZTE were suspended on Tuesday.

Reporting by Sijia Jiang; Writing by Anne Marie Roantree

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