China's ZTE to pay over $800 mln to settle with U.S. over Iran sales - source

Karen Freifeld

NEW YORK, March 7 (Reuters) - China telecom equipment maker

ZTE Corp has agreed to pay more than $800 million to

settle with U.S. authorities over allegations it violated U.S.

laws restricting the sale of American-made technology to Iran,

according to a person familiar with the matter.

The U.S. Department of Commerce is expected to announce the

agreement on Tuesday, the person said. The person did not want

to be identified because the settlement is not yet public.

(Reporting By Karen Freifeld; Editing by Chizu Nomiyama)