Huawei Technologies to sell 2 per cent stake in Huawei-3Com

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Huawei Technologies to sell 2 per cent stake in Huawei-3Com

November 15, 2005

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Shenzhen-based Huawei Technologies, one of China's largest telecommunications equipment makers, has signed an agreement with 3Com Corporation to sell a 2 per cent stake in Huawei-3Com, for $280 million. Hong Kong-based Huawei-3Com is an IP networking company, created as a joint venture by Huawei Technologies and 3Com Corporation in November 2003.

3Com invested $160 million in the joint venture and Huawei contributed its enterprise networking business assets, including switches, routers, engineering and marketing resources as well as related intellectual property.