Huawei to Sell Out JV Stake to 3Com for US$882mln
December 01, 2006
Chinese Huawei Technologies has agreed to sell out its 49% stake in the joint venture Huawei-3Com to its partner 3Com, ending a bidding war to overtake each other. 3Com, a US-based computing network equipment maker, joined hands offers a US$882-million bid to acquire Huawei's entire shares and gain full control of the Internet infrastructure joint venture. The transaction is currently awaiting official approval from Beijing.