ZTE negotiates $5.6 billion restructuring for Australian Telstra Optus smartphone supply

ZTE is reportedly negotiating a 5.6 billion dollar restructuring of its consumer smartphone business to create a new joint venture backed by an unnamed Chinese internet company and a Shanghai state-owned enterprise. The proposed deal could impact major Australian telecommunications carriers Telstra and Optus by potentially placing state-backed entities behind their house-brand smartphones. Sources indicate the parties reached broad agreement on a restructuring model in September, raising new questions regarding security oversight and ownership transparency. Open article →