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Stock impact report

FCC votes to revoke China Telecom Americans authority to provide U.S. services, citing national security concerns [Toronto Globe and Mail (Ontario, Canada)]

ZTE CORP UNSP/ADR (ZTCOY) 
NASDAQ:AMEX Investor Relations: zte.com.cn/global/about/investorrelations
The U.S. Federal Communications Commission (FCC) on Tuesday voted to revoke authorization for China Telecom’s U.S. subsidiary to operate in the United States, citing national security concerns. China Telecom, the largest Chinese telecommunications company, has had authorization to provide telecommunications services for nearly 20 years in the United States. China Telecom Americas must now discontinue services within 60 days. The FCC in April, 2020, had warned that it might shut down the U.S. operations of three state-controlled Chinese telecommunications companies, citing national security risks, including China Telecom Americas as well as China Unicom Americas, Pacific Networks Corp and its wholly owned subsidiary ComNet (USA) LLC. “The FCC’s decision is disappointing. We plan to pursue all available options while continuing to serve our customers,” a China Telecoms America spokesperson told Reuters. The FCC found that China Telecom “is subject to exploitation, influence, and control Show less Read more
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