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AccessMyLibrary    Browse    A    AsiaPulse News    NOV-06    CHINA'S HUAWEI TO SELL STAKE IN JV FOR US$882 MLN.

CHINA'S HUAWEI TO SELL STAKE IN JV FOR US$882 MLN.

Publication: AsiaPulse News

Publication Date: 30-NOV-06
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COPYRIGHT 2006 Asia Pulse Pty Ltd

BEIJING, Nov 30 Asia Pulse - China's top telecommunications equipment maker Huawei Technologies has agreed to sell off its 49 per cent stake in a joint venture with U.S.-based 3Com for US$882 million, in a move to offload its non-core businesses.

The deal, which requires Chinese government approval, could give 3Com full ownership of H3C. The Hong Kong-headquartered venture mainly operates in Hangzhou, the capital of East China's Zhejiang Province.

The agreement is in line with analysts'...

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