Cash-rich Huawei will stand put for now

10/14/2013 | International Business Times

China's Huawei Technologies is sitting on piles of cash, but the telecom vendor has no plans to put the money to work buying other companies, a top executive said in response to various reports that have linked Huawei to an array of struggling telecom firms. "We believe that our integration capabilities are not yet sufficient for this. A takeover is easy, integration is the difficulty afterwards. We have acquired smaller companies," Deputy Chairman Guo Ping said. He did add that the company remained "open minded" about entering into partnerships and other cooperative ventures.

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