Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Huawei to sell key server division due to U.S. blacklisting- Bloomberg News

Published 11/02/2021, 05:52 AM
Updated 11/02/2021, 05:56 AM
© Reuters. FILE PHOTO: A Huawei logo is seen on a cell phone screen in their store at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido/File Photo

(Reuters) - Huawei Technologies Co is in advanced talks to sell its x86 server business after the U.S. blacklisting of the company made it difficult to secure processors from Intel Corp (NASDAQ:INTC), Bloomberg News reported on Tuesday.

The Chinese telecoms giant is selling the server business to a consortium that includes at least one government-backed buyer, the report said, citing people familiar with the matter.

According to the report, several potential buyers from government and the private sector emerged in recent months.

Henan Information Industry Investment Co Ltd, a state-owned firm that has been a partner of x86 and consumer electronics maker Huaqin Technology Co Ltd along with an asset management company representing the Hubei provincial government are involved in the talks, according to Bloomberg.

Huawei declined to comment when contacted by Reuters.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.