UPDATE 3-FCC revokes authorization of China Telecom's U.S. unit [Reuters]
ZTE CORP UNSP/ADR (ZTCOY)
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Source: Reuters
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly WASHINGTON, Oct 26 (Reuters) - The U.S. Federal Communications Commission (FCC) on Tuesday voted to revoke the authorization for China Telecom's (0728.HK) U.S. subsidiary to operate in the United States, citing national security concerns. The decision means China Telecom Americas must now discontinue U.S. services within 60 days. China Telecom, the largest Chinese telecommunications company, has had authorization to provide telecommunications services for nearly 20 years in the United States. The FCC found that China Telecom "is subject to exploitation, influence, and control by the Chinese government and is highly likely to be forced to comply with Chinese government requests without sufficient legal procedures subject to independent judicial oversight." The U.S. regulator added that Chinese government ownership and control "raise significant n
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