Huawei Quashes Rumor of Buyout by Chinese State Company
Li Na
/SOURCE : Yicai
Huawei Quashes Rumor of Buyout by Chinese State Company
(Yicai Global) Sept. 14 -- Huawei Technologies, China's largest smartphone maker, has rebuffed speculation that it being acquired by a state-owned enterpre.  Media reports about an "acquition by state-owned capital" are untrue, Huawei told Yicai Global yesterday. The Shenzhen-based firm also rebutted reports about any business spinoffs or subsidiary divestments.

"Founded in 1987, Huawei a private enterpre whose employees hold all the stakes," the company said on its website. "With 180,000 employees, Huawei operating across more than 170 countries and regions."

The shareholders' meeting, which consts of founder and Chief Executive Ren Zhengfei and the firm's labor union, remains Huawei's decion-making body on sues including capital increase, profit dtribution, as well as the election of directors and supervors, it added. The labor union composed of employee representatives.

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Keywords: HUAWEI , State-Owned Capital , Acquisition , Rumor