Friday, May 09, 2008

Huawei may sell stake in its mobile-devices business

Huawei Technologies Co, China's leading telecoms equipment provider, is considering to sell stake in its mobile-devices operations to a foreign investor in a bid to step into its long-desiring North American market, sources reported.

The multibillion-dollar stake sale could be among one of the largest foreign investments in a Chinese company, but it is still at an early stage. Huawei expects, in later May, to invite strategic investors and private-equity companies to bid for a majority shareholding stake in the business, according to the report.

The Shenzhen-based company, established in 1988, has witnessed a rapid growth in its business and market expansion. In 2007, its global contract sales reached US$16 billion, representing a year-on-year growth of over 42% of its total contract sales generated from international market. However, it is still struggling with the North American market.

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