ZTE Corp <0763.SZ> <000063.SZ>,
China's second largest telecom equipment maker, said on Tuesday
that Cisco Systems <CSCO.O> has terminated its agreement with
the company, confirming an earlier Reuters report.
ZTE said in a statement filed on the Shenzhen stock exchange
that the U.S. company had terminated the agreement involving
equipment sales in July, but added that the move will have
little impact on its business.
On Monday, sources told Reuters that Cisco has ended a
longstanding sales partnership with ZTE after an internal
investigation into allegations that the Chinese
telecommunications equipment maker sold Cisco networking gear to
Iran.
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