U.S. interest lifts shares in Huawei rivals Ericsson, Nokia
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm, Sweden June 14, 2018. Picture taken June 14, 2018. REUTERS/Olof Swahnberg/File Photo
The United States has blacklisted Huawei and is in the midst of a worldwide campaign to convince allies to ban the Chinese giant from their 5G networks, alleging its equipment could be used by Beijing for spying - which Huawei denies. “At the same time there is no concrete proposition from America and if there were such a proposal it would be up to Ericsson shareholders to respond to that,” he told Reuters.
The two firms have a combined market capitalization of about $50 billion and it is unclear how the U.S. government would fund investment in the companies or indeed how European regulators and governments would view such a move.While the two companies, which together with Huawei dominate the market, declined to comment on Barr’s remarks, Ericsson shareholder, activist fund Cevian Capital, said it welcomed the apparent U.S.
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