Market Chatter: US Cracks Down on China Telecom Over Security Risk Concerns

MT Newswires Live

2024/12/18

China Telecom (SHA:601728, HKG:0728) has 30 days to respond to the US Commerce Department's preliminary determination over concerns it could exploit access to American data via its US cloud and internet businesses, Reuters reported Monday.

The preliminary determination was sent last week, a source told Reuters.

Shares of the telecommunications company rose 1% in recent trade in Shanghai and Hong Kong.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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