The Freeland File
Aerospace & Defense
Global Market Data
Lucy P. Marcus
David Cay Johnston
The Great Debate
Jack & Suzy Welch
Macro & Markets
Lipper Awards 2012
Personal Finance Video
Morgan Freeman is alive, no matter what Facebook says
10 Sep 2012
China's Xi not seen in public because of ailment: sources
Insight: GM's Volt: The ugly math of low sales, high costs
10 Sep 2012
Japan buys disputed islands, China sends in patrol boats
Southern whites troubled by Romney's wealth, religion
Obama widens lead over Romney despite jobs data: Reuters/Ipsos poll
Insight: GM’s Volt – The ugly math of low sales, high costs
Movies suffer worst box-office slump in a decade
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
WTC rises again
The new World Trade Center surpasses the Empire State Building as the tallest building in New York. Slideshow
Demonstrations continue as wage talks to end the month-long Lonmin strike fail to start as scheduled. Slideshow
China's Huawei set to announce $1.9 billion UK investment: Sky News
Mon Sep 10, 2012 9:53pm EDT
(Reuters) - China's Huawei Technologies Co Ltd, the world's second-biggest telecommunications equipment maker, is set to announce a 1.2 billion pound ($1.9 billion) investment in Britain in a bid to accelerate growth of its business there, Sky News reported.
Huawei, whose expansion plans have been met with some suspicion in the United States and Australia over concerns about cyber security, aims to create at least 700 jobs over the next five years while directly investing 600 million pounds, it said.
A further 600 million pounds in investment would be generated through procurement activity.
Huawei was not immediately available to comment. The UK government declined to comment.
The company, founded by CEO Ren Zhengfei in 1987 after he was made redundant by China's military, has diversified into consumer devices and enterprise networking equipment as growth in its core telecoms gear market has stalled.
Ren's background with the Chinese military has been cited as hindering the company's progress overseas, although he has denied close links to the military, pointing out he was made redundant from the People's Liberation Army three decades ago.
The UK investment announcement would coincide with a rare trip to Britain by Ren, Sky News reported.
Huawei has been actively hiring foreign executives, including former government officials and industry figures, in various parts of the company, including senior positions and research and development, to achieve its global ambitions.
($1 = 0.6246 British pounds)
(Reporting by Anne Marie Roantree in Hong Kong; Editing by Edwina Gibbs)
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Be the first to comment on reuters.com.
Add yours using the box above.
Back to top
New York Legal
Support & Contact
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.