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Reuters
Telecoms giant Huawei could not withstand the US sanctions and decided to sell its subsidiary, Honor, for $ 15.2 billion in November.
“Reuters,” quoting its sources, said the buyer was a consortium led by smartphone distribution company Digital China.
Investment companies backed by authorities in the city of Shenzhen, where Huawei’s headquarters are located, are also participating in the deal.
The sources said the brand itself, research and design departments and supply chains will also be sold.
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The agency said the company Honor plans to retain most of its management team and 7,000 employees, as well as go public within three years.
Experts say the sale of Honor indicates that Huawei is not hoping for rapid changes after the new US administration arrives.
Source: Linta Rowe
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