11:05 AM Report: Chinese vendor lost bids for US assets
August 3, 2010
11:05 AM -- As one would expect, Huawei Technologies Co. Ltd. reportedly did bid for Motorola Inc. (NYSE: MOT)'s wireless business as well as for 2Wire Inc. last month. But the Chinese vendor's offers were rejected over doubts about its ability to get US government approval on the deals, according to a Bloomberg report. (See NSN to Buy Moto's Wireless Biz for $1.2B and Pace Makes $475M Move on 2Wire.)
According to the report, Huawei offered at least $100 million more than the Nokia Networks $1.2 billion offer for Motorola's wireless assets -- and much more than Pace plc 's $475 million offer for 2wire. But the sellers were concerned that the deals would fail to win or at least get tied up in lengthy US government approval processes.
Of course, Motorola's recent allegations that Huawei has stolen certain trade secrets can't have helped matters either. (See Moto Accuses Huawei of Theft.)
— Michelle Donegan, European Editor, Light Reading Mobile
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