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…
Source Reuters Tech News