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General

Huawei withdraws from 3Leaf acquisition in US

Monday 21 February 2011 | 09:00 CET | News
Huawei has decided to accept a decision by the US foriegn investment committee and drop its acquisition of parts of US-based 3Leaf. The Committee on Foreign Investment in the United States (CFIUS) had recommended Huawei withdraw the acquisition due to security concerns about the Chinese company. Huawei had earlier signalled it would ignore the recommendation and await a final decision by US president Barack Obama. In an open letter posted on its website, the company said "it was a difficult decision" but it has now decied to withdraw the deal. "The significant impact and attention that this

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Categories: General
Companies: Huawei China
Countries: United States
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