China's Huawei to sell undersea cable business

China’s Huawei Technologies Co Ltd plans to sell its 51% stake in undersea telecommunications cable business Huawei Marine Systems Co Ltd, according to an exchange filing from the Chinese buyer on Monday.

Huawei Technologies declined to provide immediate comment when contacted by Reuters. Trading of Hengtong Optic-Electric shares was suspended on Monday pending deal discussions. Last month, Huawei was slapped with a trade ban by the US Commerce Department that threatens to significantly disrupt its supply chain, though it has since been given a temporary reprieve.

Huawei Marine, established in 2008 as a joint venture with Britain’s Global Marine, is mainly engaged in the construction of global undersea communications cables.

CCP'S trick

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Huawei Seeks Quick Overturn of Law Restricting Its U.S. BusinessHuawei asked a judge to quickly rule in its favor in its legal challenge to overturn a law that restricts its business in the U.S., saying American officials haven’t provided evidence that it poses a security threat. Oh FreeTibet FreeTaiwan Yes we are gfy
Fonte: WSJ - 🏆 98. / 63 Leggi di più »