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Huawei Said to Plan U.K. Investment of 1.2 Billion Pounds

Huawei Technologies Co., China’s largest maker of telephone equipment, plans to invest $2 billion in the U.K. within five years, as it almost doubles its workforce in the country.

The announcement follows British politicians’ efforts to woo business from China and other countries while London hosted the Olympic Games. Huawei will increase its headcount in the U.K. to more than 1,500 by 2017, from more than 800 now, the Shenzhen, southern China-based company said in a statement today. It will spend $1 billion in direct investment plus $1 billion through procurement.