Huawei is selling its undersea telecoms cable business, marking the Chinese group’s first big asset sale since the US began ramping up pressure on the company amid accusations it is a national security risk.
The sale of the majority stake in Huawei Marine Systems comes two weeks after the US placed Huawei on an export blacklist, threatening to cripple the company by cutting it off from suppliers.
Washington has been lobbying its allies to block Huawei from their 5G telecoms systems, accusing the company of being a vehicle for Chinese government spying.
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