Reports in the Chinese media suggest that Huawei Technologies Co. Ltd. is edging closer to an international IPO, though representatives at the vendor have refused to confirm that a stock market listing is imminent.

A report in Hong Kong newspaper The Standard says the vendor has restructured the company into six business units and has held talks with investment bankers from China International Capital Corp. Ltd. and Morgan Stanley as part of its preparations for listing shares on an international stock exchange.

Chief spokesman Fu Jun confirmed the restructuring to the newspaper and reiterated that the company plans to list overseas at some point, but he would not comment on a timetable.

Fu said the six units are based around investment holding, technology, mobile, training, application-specific integrated chips (ASICs), and software, and that another two unidentified units may yet be formed.

European staff declined to comment to Light Reading on any share issue plans, refering us back to the company's Chinese headquarters.

Huawei's desire for a public listing has been known for some time (see Huawei's US Aspirations on Hold and ...and East Looks West), and has the potential to be one of the biggest telecom IPOs since the Bubble when it happens -- which is why it commands second place on Light Reading's Top Ten Private Companies. The company had sales of $3.2 billion in 2003 and is growing domestically and internationally (see Huawei Technologies).

It's likely to be upstaged by fellow Chinese vendor ZTE Corp., however, which is already making plans to list its shares outside of China (see ZTE HK IPO OK'd).

— Ray Le Maistre, International News Editor, Light Reading