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U.S. interest lifts shares in Huawei rivals Ericsson, Nokia – Source Reuters Tech News

STOCKHOLM (Reuters) – Shares in Ericsson (ERICb.ST) and Nokia (NOKIA.HE) rose on Friday after a U.S. official suggested the United States should consider buying stakes in the telecom equipment makers to counter China-based Huawei’s dominance in 5G technology.

FILE PHOTO: The Ericsson logo is seen at the Ericsson’s headquarters in Stockholm, Sweden June 14, 2018. Picture taken June 14, 2018. REUTERS/Olof Swahnberg/File Photo

U.S. Attorney General William Barr said in a speech on Thursday that the United States and its allies should consider the highly unusual step of taking a “controlling stake” in one or both of the Nordic rivals to Huawei.

5G networks are at the center of a dispute over technology between the United States and China as they are expected to host a range of critical functions from driverless vehicles to smart electric grids and military communications, underscoring their importance to national security.

The United States has blacklisted Huawei and is in the…

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Source Reuters Tech News

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