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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  ZTE Corporation    000063   CNE000000TK5

ZTE CORPORATION

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Swedish telecoms regulator to appeal court decision on Huawei exclusion

11/13/2020 | 05:07am EST
FILE PHOTO: Letterings that form the name of Chinese smartphone and telecoms equipment maker Huawei are seen during Huawei Connect in Shanghai

STOCKHOLM (Reuters) - Swedish telecoms regulator PTS will appeal a court decision against its plan to exclude Chinese telecom equipment maker Huawei from its 5G networks.

PTS on Monday halted 5G spectrum auctions after a court suspended parts of its earlier decision, in which it followed Britain in banning Huawei equipment from 5G networks, citing national security risks.

The Chinese company had appealed against PTS' decision to exclude it, saying it wanted a court to check if it had been taken according to the law.

"PTS will appeal the administrative court's decision on inhibition to the next instance," the regulator said in a statement on Friday.

The auctions were originally expected to start this week, and would have benefited Nokia and Ericsson as PTS had asked companies taking part to remove Huawei and ZTE equipment from their infrastructure.

PTS said in Friday's statement that it would wait for a decision from the administrative court of appeal to decide how to proceed with auctions.

Huawei told Reuters on Monday that it had no plan for more legal action, and was waiting to have a constructive dialogue with Swedish authorities.

(Reporting by Helena Soderpalm; editing by Johan Ahlander and Jane Merriman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB 0.36% 99.06 Delayed Quote.1.45%
NOKIA OYJ -0.89% 3.3525 Delayed Quote.6.39%
ZTE CORPORATION -2.26% 35.1 End-of-day quote.4.31%
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Financials
Sales 2020 102 B 15 762 M 15 762 M
Net income 2020 4 253 M 656 M 656 M
Net Debt 2020 716 M 110 M 110 M
P/E ratio 2020 33,9x
Yield 2020 0,64%
Capitalization 149 B 22 987 M 22 986 M
EV / Sales 2020 1,47x
EV / Sales 2021 1,30x
Nbr of Employees 70 066
Free-Float 71,4%
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Technical analysis trends ZTE CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 39,26 CNY
Last Close Price 35,10 CNY
Spread / Highest target 41,0%
Spread / Average Target 11,8%
Spread / Lowest Target -24,5%
EPS Revisions
Managers and Directors
NameTitle
Zi Yang Xu President, CEO & Executive Director
Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
Li Ying Chief Financial Officer & Executive Vice President
Jun Feng Wang Member-Supervisory Board
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