UPDATE 1-U.S. appeals court will not block China Telecom revocation order [Reuters]
ZTE CORP UNSP/ADR (ZTCOY)
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Source: Reuters
Federal Communications Commission order withdrawing its authority to provide services in the United States. A three-judge panel of the U.S. Court of Appeals for the District Columbia rejected the bid by the U.S. arm of China Telecom to temporarily block the FCC order, which takes effect in early January, pending a full review of its legal challenge. China Telecom had warned it must notify U.S. customers of the decision by Saturday and said that without a temporary halt to the FCC action, it “will be forced to cease significant operations, irreparably harming its business, reputation, and relationships.” The court said it would issue a schedule to consider the legal arguments. But that is likely to take months. The carrier, which did not immediately comment on Thursday, was ordered by the FCC on Oct. 26 to discontinue U.S. services by early January. The FCC said China Telecom “is subject to exploitation, influence, and control by the Chinese government and is highly likely to
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