BUSINESS Buyout by State interest untrue: Huawei

BUSINESS

Buyout by State interest untrue: Huawei

Global Times

09:28, September 14, 2018

Chinese telecommunication giant Huawei Technologies denied a rumor concerning a buyout by a Stated-owned enterprise on Thursday.

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File photos: Huawei

The rumor was based on a snapshot of a group discussion on the WeChat social messaging app, but it came amid a wave of heated discussion on the roles of the private and State sectors.

Huawei told the Global Times on Thursday the circulated information is a rumor. 

Huawei is a private enterprise entirely held by its employees, according to the website of the company, a top private Chinese firm with 325.7 billion yuan ($47.66 billion) in revenue in the first half of 2018. 

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