Exclusive: Alibaba, China Mobile weigh US$443 mln investment in blacklisted Dahua - sources

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan (US$443 million) in Zhejiang Dahua ...

Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.

Dahua, China's second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua - which has a market capitalisation of US$10.

The agreement would give China Mobile use of Dahua's big data and cloud computing services, video surveillance equipment and Internet of Things technology, they said. The initiative could be a boon for Hangzhou-based Dahua and rival Hangzhou Hikvision Digital Technology Co Ltd, with products such as video surveillance, access control and remote image monitoring systems.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: Alibaba, China Mobile weigh US$443 million investment in blacklisted Dahua - sourcesAlibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan (US$443 million) in Zhejiang ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »