To counter Huawei, U.S. could take 'controlling stake' in Ericsson, Nokia - attorney general [Reuters]
Ericsson - American Depositary Shares each representing 1 underlying Class B share (ERIC)
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Source: Reuters
To counter Huawei, U.S. could take 'controlling stake' in Ericsson, Nokia: attorney general WASHINGTON (Reuters) - U.S. Attorney General William Barr said on Thursday the United States and its allies should consider the highly unusual step of taking a “controlling stake” in Finland’s Nokia ( NOKIA.HE ) and Sweden’s Ericsson ( ERICb.ST ) to counter China-based Huawei’s dominance in next-generation 5G wireless technology. In a remarkable statement underscoring how far the United States may be willing to go to counter Huawei Technologies Co, Barr disclosed in a speech at a conference on Chinese economic espionage that there had been proposals to meet the concerns “by the United States aligning itself with Nokia and/or Ericsson.” Barr said the alignment could take place “through American ownership of a controlling stake, either directly or through a consortium of private American and allied companies.” “Putting our large market and financial muscle behind one or both of these firms wo
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