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Huawei looks to exit marine cabling market

2019-06-03 14:09:00| Telecompaper Headlines

(Telecompaper) Huawei has decided to sell its majority stake in Huawei Marine Networks, its joint venture with Global Marine Systems of the UK, the South China Morning Post reported. The joint venture, in which Huawei holds 51 percent, lays undersea ducts for internet cables. The new owner of the stake will be Hengtong Optic-Electric, a Jiangsu-based optical-cable manufacturer, Hengtong said in a stock exchange filing. 

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