Skyscraper of the R&D building of Huawei Headquarters in Longgang District of Shenzhen city, Guangdong Province, China. Photo: iStock

Major Chinese phone maker Huawei, the largest telecom equipment manufacturer in the world, is quashing rumours that it will be bought out by a state-owned company, Yicai.com reported.

Regarding the current shareholding structure, Huawei emphasized that it is a private enterprise with all shares held by employees. It currently has 180,000 employees and operates in more than 170 countries and regions.

Furthermore, the shareholders’ meeting remains the decision-making authority. It consists of two shareholders — Ren Zhengfei, the founder and president of the company, as well as the trade union led by representative employees.

Huawei also confirmed that the rumour about the spin-off of the company’s businesses is not true.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

One reply on “Huawei denies rumours of pending SOE acquisition”

Comments are closed.