Exclusive: Alibaba, China Mobile weigh $443 million investment in blacklisted Dahua - sources
HONG KONG (Reuters) - Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd [CHNMC.UL] are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.
Dahua, China’s second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.
E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua - which has a market capitalisation of $10.3 billion - via a private share placement in coming weeks, the people said.
https://www.reuters.com/article/technologyNews/idUSKBN2670I4
#Asia #China #Alibaba #investment
HONG KONG (Reuters) - Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd [CHNMC.UL] are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.
Dahua, China’s second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.
E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua - which has a market capitalisation of $10.3 billion - via a private share placement in coming weeks, the people said.
https://www.reuters.com/article/technologyNews/idUSKBN2670I4
#Asia #China #Alibaba #investment
Reuters
Exclusive: Alibaba, China Mobile weigh $443 mln investment in blacklisted Dahua - sources
Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.