Rumours on outcome of Ericsson lawsuit untrue: ZTE

CIOL Bureau
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CALIFORNIA, USA: ZTE Corp , China's second-largest telecommunications equipment maker, said on Thursday that market rumours that its share price plunge was due to the outcome of its lawsuit with competitor Ericsson were unfounded.

"Our company does not have any major announcements to make. There are rumours that the company's unusual share move was due to our lawsuit with Ericsson. This information is not accurate," ZTE said in a statement.