Contracts Ban Hits ZTE And HuaweiJune 2012 | Company News Alert
Chinese telecommunications hardware vendors ZTE and Huawei Technologies are reported to have been barred from bidding for equipment supply contracts in Algeria for two years, amidst allegations that the companies employed bribery to secure high-level deals from key telecoms officials. The two vendors have also been fined US$40,000 each, while the extradition of three executives from China has been demanded by the Algerian courts. While BMI stresses that the validity of the allegations remains far from clear, this latest development clearly shows that the risks to doing business in the volatile Algerian market remain high by regional standards.
To read the full article, please choose one of the following options: