Monday, September 24, 2007

ZTE deal suspended by GMA

The government on Saturday announced that the controversial $329-million national broadband network (NBN) deal with the Chinese company, ZTE Corp., has been temporarily suspended, Trade Secretary Peter Favila said.

President Gloria Macapagal Arroyo has ordered Sec. Favila to suspend the deal days after two senate hearings revealed the contract may prove to be disadvantageous for the country.

Favila on Saturday told reporters at a press conference in a hotel in Mandaluyong City that President Arroyo gave specific instructions to suspend negotiations for the implementation of the contract.

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