China's ZTE to pay over $800 million to settle with U.S. over Iran sales: source

By By Karen Freifeld Features Reuters

FILE PHOTO - The company logo of ZTE is seen through a wooden fence on a glass door during the company's 15th anniversary celebration in Beijing April 18, 2013. REUTERS/Barry Huang/File Photo (Copyright Reuters 2017)

China telecom equipment maker ZTE Corp has agreed to pay more than $800 million to settle with U.S. authorities over allegations it violated U.S. laws restricting the sale of American-made technology to Iran, according to a person familiar with the matter.

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The U.S. Department of Commerce is expected to announce the agreement on Tuesday, the person said. The person did not want to be identified because the settlement is not yet public.

(Reporting By Karen Freifeld; Editing by Chizu Nomiyama)