Comment # 6 on bug 846909 from Mark Goldstein

I bumped into the same issue with current TW release:
NAME="openSUSE Tumbleweed"
# VERSION="20160928"
ID=opensuse
ID_LIKE="suse"
VERSION_ID="20160928"

/etc/localtime is ../../<timezone_file> instead of
../usr/share/zoneinfo/<timezone_file>

rpm -q --qf "%{DISTURL}" timezone 
returns 
obs://build.opensuse.org/openSUSE:Factory/standard/29e4864f5e89ba25e9bd87c9cf9bb637-timezone

... and zic -l <timezone> in my case did not restore the correct link.
After I removed the link and manually set the correct one, I tried zic -l again
and got a wrong value again.

(Tried different timezones with zic -l and got the same broken link
../../<timezone>)

With broken link the system uses UTC as local zone.