Arrest of Huawei’s CFO made tech companies like Apple and Intel less valuable

📆 07/12/2018 12:27:00
📰 IndependentSG

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Meng Wanzhou, Chief Finance Officer of smartphone maker Huawei and daughter of Huawei’s founder Ren Zhengfei, was arrested in Canada on Saturday and is facing extradition to the United States. News of the arrest was made public on Wednesday, December 5.

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Huawei CFO Meng Wanzhou granted bail, company hopeful of timely resolution of caseHuawei Technologies Co Ltd said on Wednesday it has every confidence that the Canadian and US legal systems will reach a just conclusion in the proceedings. The comments came after a Canadian judge granted a C$10 million (S$10.3 million) bail to Huawei CFO Meng Wanzhou. 'We look forward to a timely resolution of this matter,' Huawei said. The company highlighted again that it complies with all applicable laws and regulations in the countries and regions where it operates, including export control and sanction laws of the UN, US, and EU.
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