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October 14, 2007

The Huawei-3Com Deal Draws Interest

Channel News Asia reports:

A deal giving Chinese-based Huawei Technologies a stake in US telecom equipment maker 3Com Corporation presents "no risk to national security," the US firm says in a regulatory filing.

The comments made by 3Com were made in a filing to the Securities and Exchange Commission on details of the 2.2 billion-US-dollar agreed takeover by private equity group Bain Capital Partners, LLC.

The deal announced September 28 calls for Huawei to hold a 21.5 per cent stake in 3Com but the Chinese firm "will have no operational control over 3Com and no ability to make decisions for it," the filing made late Thursday said.

Bain Capital agreed last week to voluntarily submit the deal to review by the Committee on Foreign Investment in the United States (CFIUS), an interagency panel that reviews the national security implications of foreign takeovers, the document noted.

To read more:

http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/305381/1/.html

Posted at 07:29 AM |

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