TITLE

Huawei Shelves Sell-Off Plan

AUTHOR(S)
Dreyfuss, Joel
PUB. DATE
October 2008
SOURCE
Red Herring;10/9/2008, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that telecommunications equipment maker Huawei's plan to raise $2 billion by selling a majority stake in its mobile equipment unit to a foreign buyer has been put on hold. It states that Huawei had engaged Morgan Stanley to find a strategic partner to buy the unit, but bankers said the turmoil in the financial markets has made it difficult to compete a deal at this time. According to reports, U.S. private equity firms Bain Capital and Silverlake Partners had offered bids but they were around 25 percent below Huawei's expectations.
ACCESSION #
36602975

 

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