Huawei denies rumours of pending SOE acquisition
China's largest telecom equipment manufacturer says all shares are held by employees and decisions are controlled by shareholders
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.