Huawei cites market turmoil in nixing mobile sale

10/9/2008 | Wall Street Journal, The · Bloomberg

Huawei Technologies has abandoned plans to sell a large stake in its mobile-phone unit after China's largest telecom-equipment maker received only two bids for a division that had originally been valued at about $4 billion. At one time, five potential buyers had expressed strong interest in Huawei, but the global financial panic caused all but two companies -- Bain Capital Partners LLC and Silver Lake -- to drop out, and the remaining bids reportedly fell short of Huawei's valuations.

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Wall Street Journal, The · Bloomberg

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