Huawei is looking to sell off its stake in the company’s undersea telecom cable business, which would mark its first major asset sale since the U.S. banned the use of some of its telecom gear in networks.
According to a Sunday story by Reuters, China’s Hengtong Optic-Electric Co., which is an optical network products vendor, said in a filing to the Shanghai Stock Exchange that it had signed a letter of intent with Huawei to buy a 51% stake in Huawei Marine Systems Co.
