- Joined
- Jun 20, 2011
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And blocks Commie Jack Ma from buying MoneyGram.
Among the deals killed recently by the multi-agency Committee on Foreign Investment in the United States (CFIUS) were Ant Financial’s plan to buy U.S. money transfer company MoneyGram International Inc (MGI.O), the purchase by China-backed Canyon Bridge Capital Partners LLC of a U.S. chip maker and plans by Zhongwang USA, backed by a Chinese aluminum tycoon, to buy a U.S. aluminum maker.
Huawei's AT&T U.S. smartphone deal collapses
HONG KONG (Reuters) - Huawei Technologies Co Ltd’s [HWT.UL] planned deal with U.S. carrier AT&T Inc (T.N) to sell its smartphones in the United States has collapsed at the 11th hour because of security concerns, people with knowledge of the matter said, in a blow to the Chinese firm’s global ambitions.
AT&T was pressured to drop the deal after members of the U.S. Senate and House intelligence committees sent a letter on Dec. 20 to the U.S. Federal Communications Commission (FCC) citing concerns about Huawei’s plans to launch consumer products through a major U.S. telecom carrier.
The letter to FCC Chairman Ajit Pai, which was signed by 18 lawmakers, noted concerns about Chinese companies in the U.S. telecommunications industry.
The letter notes the committee’s concerns “about Chinese espionage in general, and Huawei’s role in that espionage in particular.” A copy of the letter was seen by Reuters.
Among the deals killed recently by the multi-agency Committee on Foreign Investment in the United States (CFIUS) were Ant Financial’s plan to buy U.S. money transfer company MoneyGram International Inc (MGI.O), the purchase by China-backed Canyon Bridge Capital Partners LLC of a U.S. chip maker and plans by Zhongwang USA, backed by a Chinese aluminum tycoon, to buy a U.S. aluminum maker.
Huawei's AT&T U.S. smartphone deal collapses
HONG KONG (Reuters) - Huawei Technologies Co Ltd’s [HWT.UL] planned deal with U.S. carrier AT&T Inc (T.N) to sell its smartphones in the United States has collapsed at the 11th hour because of security concerns, people with knowledge of the matter said, in a blow to the Chinese firm’s global ambitions.
AT&T was pressured to drop the deal after members of the U.S. Senate and House intelligence committees sent a letter on Dec. 20 to the U.S. Federal Communications Commission (FCC) citing concerns about Huawei’s plans to launch consumer products through a major U.S. telecom carrier.
The letter to FCC Chairman Ajit Pai, which was signed by 18 lawmakers, noted concerns about Chinese companies in the U.S. telecommunications industry.
The letter notes the committee’s concerns “about Chinese espionage in general, and Huawei’s role in that espionage in particular.” A copy of the letter was seen by Reuters.
