China’s ZTE may pay more than $1 billion to the US over foreign bribery allegations, sources say

Chinese telecom giant ZTE Corp faces a potential penalty exceeding one billion dollars from the U.S. government. This stems from allegations of foreign bribery to secure telecom contracts. The company previously paid two billion dollars for export violations. Investigations into bribery in South America and other regions are ongoing. A settlement requires Chinese government approval. The U.S.