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.
Huawei has recently proven to take a big lead in 5G competition, and also jump to the forefront in 7nm chip design. This ridiculous rumour is a clear sign of desperation from Huawei’s competitiors. There is absolutely no reason for the Chinese goverment to touch this most successful technology company from China.