Vivendi too is under new management as it sheds its telecoms operations to focus on its media operations.
Second, no Chinese company can do business without the approval of its government, and Huawei works in such sensitive areas – nothing is more essential to a modern country than its telecoms system – it faces extra hurdles that might not apply to western companies.
While it won a court-brokered reprieve to restructure its debts, disputed ownership claims over controlling shares in PTC hampered the sale of its telecoms assets, prompting it to pull out of a life-saving debt-rescheduling deal.
The German firm said that it would speed up restructuring of its telecoms operation, which could involve further job losses on top of the 8,000 that have gone so far this year.See article: Waving or drowning Compaq reported a $279m loss in the second quarter, after a profit of $388m last year.
It took the government 33 years to privatise its telecoms company, now called NTT.
Its telecoms and chemicals businesses have been sold, and it will probably dispose of its stakes in Hochtief, a construction company, and Heidelberger Druckmaschinen, a printing-machine manufacturer, in the next few years.
The senior man says he did not inform his superiors.The Munich investigation is potentially more embarrassing for Siemens because it involves more money at least €400m allegedly misappropriated in its telecoms division for bribery and other uses and allegations against former board members.
Mr Hollings thinks it is not in America's national interest to have its telecoms firms bought up by foreign rivals that are more than 25%-owned by their governments.
But it's also been through several rocky patches over the last 10 years, including profit warnings, and it has divested of several operations — including the sale of its telecoms assets in 2007 for $525 million to Atlantic Bridge Ventures.
Take the example of Williams, an Oklahoma-based energy company that delayed releasing its final 2001 results while it worked out exactly how to treat potential liabilities related to its telecoms unit.
Marubeni had to postpone plans to list Vectant, its telecoms subsidiary.If only that were all.
