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Huawei strongly objected, and Dongfang Materials announced the termination of the acquisition of 51% of TD Tech's shares

author:IT House

IT之家 12 月 19 日消息,今日晚间,东方材料宣布公司与诺基亚就收购 TD TECH HOLDING LIMITED 51% 股权事宜达成和解、终止本次交易,并与其签署《Settlement Agreement》。

Huawei strongly objected, and Dongfang Materials announced the termination of the acquisition of 51% of TD Tech's shares

On April 9 this year, Dongfang Materials announced that it intends to acquire 51% of the shares of TD TECH held by communication giant Nokia through private placement, with a transaction consideration of 2.1216 billion yuan.

Huawei issued a statement that evening, saying that it had no intention or possibility of operating TD Tech as a joint venture with New Oriental New Materials.

Huawei agrees with Nokia's stake sale, but the buyer must have the same strategic capabilities to have the basis for continuing the existing partnership. The Company does not have any intention or possibility to operate TD TECH in a joint venture with New Oriental New Materials.
Huawei strongly objected, and Dongfang Materials announced the termination of the acquisition of 51% of TD Tech's shares
Huawei strongly objected, and Dongfang Materials announced the termination of the acquisition of 51% of TD Tech's shares

TD Tech Communication Technology Co., Ltd. is a joint venture between Siemens AG and Huawei Technologies Co., Ltd., which was officially established in Beijing on March 24, 2005. On April 1, 2007, Nokia and Siemens established a joint venture between Nokia Siemens Networks and Siemens Siemens Communications (TD Tech) and Siemens transferred all its TD Tech shares to Nokia Siemens Networks. In July 2013, Nokia announced that it would spend 1.7 billion euros to acquire a 50% stake in Nokia Siemens Networks owned by Siemens and rename the company Nokia Solutions and Networks, or "NSN".

According to the information disclosed in the announcement, TD TECH is registered in Hong Kong, and Nokia and Huawei hold 51% and 49% of the shares respectively.

TD Tech has reached a certain cooperative relationship with Huawei in various business segments such as wireless products, terminal products, and IoT products. In terms of technology, some of TD Tech's products are based on Huawei's license, developed and optimized on the basis of Huawei's underlying technology or existing products, and in terms of sales, TD Tech's sales of some products are in cooperation with Huawei, such as TD Tech's TD Tech N8 Pro and TD Tech's M40 mobile phones, which are very similar to Huawei nova8 Pro and Huawei Mate40, but use MediaTek Dimensity series processors and support 5G networks.

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