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

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.

Continue Reading Below

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)