Chinese telecommunications network solution provider Huawei Technologies recently confirmed media reports that the company plans to sell 49% stake in its mobile phone business unit, according to a BusinessWeek report. Morgan Stanley is named as advisor for the sale in said report.

The stake is valued at more than US$4 billion, and private equity firms such as Bain Capital, Blackstone, Texas Pacific Group, and Kohlberg Kravis Roberts & Co are reportedly potential buyers, according to China Knowledge. It is further reported that the first round of bids by the private equity firms is due for finalization by June 23. Nevertheless, no definite timetable has been otherwise published.