|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (3Y Monthly)||1.40|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
LONDON—Washington’s campaign to get some of its closest European allies to give up telecommunications gear made by Chinese companies has been a tough sell. European countries have been listening to the U.S. closely and will make the ultimate decision on whether or not to allow Huawei Technologies Co. and ZTE Corp. in domestic networks. A total ban “would have significant financial cost, would have significant customer disruption and would delay 5G rollout in several countries,” said Nick Read, chief executive of Vodafone Group PLC on a Jan. 25 conference call.
According to a tender by China Unicom Hong Kong Ltd.’s parent to purchase some 4G base stations, Ericsson offered to sell its products for 21 billion yuan ($3.1 billion), or 25 percent below Huawei and 22 percent lower than ZTE’s offer. Nokia Oyj asked for the highest price at 34.7 billion yuan.
The nation’s sleepy telecom stocks came back to life after Huawei Technologies Co. CFO Meng Wanzhou was detained in Canada in early December. While the official charge was that the company had violated U.S. sanctions on Iran, many in China interpreted the action as another attempt by the American government to thwart the country’s advance in 5G. Huawei leads the world in the number of declared essential patents for next-generation wireless technology, according to the European Telecommunications Standards Institute.
A bipartisan group of senators introduced a bill on Tuesday that would reimpose sanctions on ZTE Corp if the Chinese telecommunications firm fails to live up to U.S. laws and an agreement with the Trump administration. U.S. President Donald Trump angered many members of Congress, including some of his fellow Republicans, in July 2018 when he decided to lift a ban on U.S. companies selling to ZTE, allowing the Chinese company to resume business. ZTE broke a previous agreement and was caught illegally shipping U.S.-origin goods to Iran and North Korea, Commerce Department officials said.
The tax office of the Czech Republic became the first in what local authorities expected would be a series of national agencies to block Huawei Technologies Co. from managing critical internet infrastructure, part of a broad, U.S.-led campaign to stop the Chinese telecom giant from building the next generation of communications equipment. The Czech Financial Directorate said Wednesday it had conducted a risk assessment and determined it couldn’t allow the Chinese company or its rival ZTE Corp. to compete for a $27 million tender to build an online portal for handling the financial data of 8 million Czech taxpayers. The tax administrator said its decision is based on an alert last month from the Czech Republic’s National Cyber and Information Security Agency.
The order, which hasn’t yet been presented to the president, would not mention companies such as Huawei Technologies Co. or ZTE Corp. by name and would not outright ban U.S. sales by the firms. Huawei is pushing to take a global leadership position in 5G, but many American officials suspect the company’s products could be used by Beijing to spy on Western governments and companies.
Israel is taking U.S. concerns about possible cyber-security risks posed by Chinese investments into account and is in any case skilled at protecting itself from information theft, a senior Israeli official said on Friday. Earlier this week, visiting U.S. Deputy Secretary of Energy Dan Brouillette cautioned Israel over Chinese investment in the country, suggesting Israel's allies could limit intelligence-sharing with it as a result.
China's envoy to Canada on Thursday warned Ottawa there would be repercussions if it banned technology firm Huawei Technologies Co Ltd [HWT.UL] from supplying equipment to Canadian 5G networks, the latest blast in a deepening bilateral dispute. Ambassador Lu Shaye, speaking at a news conference, did not give details. Canada is currently studying the security implications of 5G networks, but unlike some allies has not announced Huawei equipment will be excluded.
WASHINGTON/BEIJING (Reuters) - A bipartisan group of U.S. lawmakers introduced bills on Wednesday that would ban the sale of U.S. chips or other components to Huawei Technologies Co Ltd, ZTE Corp or other Chinese telecommunications companies that violate U.S. sanctions or export control laws. The proposed law drew sharp criticism from China where Foreign Ministry spokeswoman Hua Chunying called the U.S. legislation "hysteria", intensifying a bitter trade war between Beijing and Washington.
China's Foreign Ministry said on Thursday that proposed U.S. legislation targeting Huawei, ZTE and other Chinese telecommunications equipment companies was due to "hysteria", and urged U.S. lawmakers to stop the bills. Ministry spokeswoman Hua Chunying made the comments at a regular news briefing in Beijing. On Wednesday, a bipartisan group of U.S. lawmakers introduced bills that would ban the sale of U.S. chips or other components to Huawei Technologies Co Ltd [HWT.UL], ZTE Corp or other Chinese firms that violate U.S. sanctions or export control laws.