The 51% stake in Huawei Marine Networks will be bought by Hengtong Optic-Electric, an optical-cable manufacturer based in Jiangsu province
The Huawei logo is pictured outside their research facility in Ottawa, Ontario, Canada. Picture: REUTERS/CHRIS WATTIEHuawei will sell its majority share in a submarine cable unit, the stake's buyer announced Monday, amid a US-led drive to isolate the Chinese telecom giant from global information networks over spying fears.
Huawei Marine Networks is a joint venture between Huawei and UK-based undersea cable firm Global Marine Systems. Washington suspects that Huawei, which was founded by former People's Liberation Army engineer Ren Zhengfei, has ties to China's military and thus poses a security threat. Huawei has repeatedly denied any connection to China's government or that it poses any security threat.Hengtong Optic-Electric's stock exchange filing said the company was purchasing the stake from Huawei Technologies, Huawei's corporate parent.
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