HSBC warns it could face reprisals in China if UK bans Huawei equipment: Telegraph

Technology

FILE PHOTO: HSBC’s building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London, Britain, August 8, 2018. REUTERS/Hannah McKay

(Reuters) – HSBC Holdings Plc (HSBA.L) Chairman Mark Tucker has warned Britain against a ban on networking equipment made by Huawei Technologies Co Ltd, claiming the bank could face reprisals in China, the Telegraph reported on Saturday.

Tucker made the claim in private representations to British Prime Minster Boris Johnson’s advisers, the newspaper reported here citing industry and political sources.

Britain designated Huawei a “high-risk vendor” in January, capping its 5G involvement at 35% and excluding it from the data-heavy core of the network. It is looking at the possibility of phasing Huawei out of its 5G network completely by 2023, according to officials.

Reporting by Ismail Shakil in Bengaluru; Editing by Dan Grebler

Products You May Like

Articles You May Like

Apart From Chicxulub, Another Asteroid Might Have Contributed to Dinosaur Extinction
Ben Affleck and Jennifer Lopez Wedding Prep Starts in Georgia
Researchers Estimate Size of Largest Known Star Through Sharpest Optical Image Ever Captured
Will Smith & Jada Pinkett Surface Publicly, First Time Since Oscars Slap
New Gel-Based Artificial Cartilage Might Eliminate the Need for Total Knee Replacement

Leave a Reply

Your email address will not be published.