Last month, leading Chinese networking equipment maker Huawei Technologies bowed to a recommendation by the Committee on Foreign Investment in the US (CFIUS) and withdrew its attempt to purchase $2m (£1.24m) worth of server patents from California's 3Leaf Systems. The inter-agency CFIUS, charged with reviewing transactions for national security risks, had voiced concern about Huawei's possible ties to the Chinese military. Similar concerns killed Huawei's 2008 attempt to buy a stake in networking company 3Com, which was later acquired by Hewlett-Packard. In February, the Chinese company released an open letter asking the US Government to conduct a formal investigation to dispel the "rumours and misperceptions" that Huawei somehow posed a threat to US national security.
March 16, 2011 at 09:04 PM
1 minute read
The original version of this story was published on Legalweek
A recent security clampdown on foreign acquisitions in China raises threat of ‘tit for tat’ regulation of M&A
Last month, leading Chinese networking equipment maker Huawei Technologies bowed to a recommendation by the Committee on Foreign Investment in the US (CFIUS) and withdrew its attempt to purchase $2m (£1.24m) worth of server patents from California’s 3Leaf Systems.
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