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Embattled Huawei to Exit Undersea Cable Business After Trump Ban

  • Chinese telecoms gear giant to sell its 51% of Huawei Marine
  • The deal comes just weeks after the U.S. blacklisted Huawei
The Huawei Marine Networks Co. logo is displayed on an R1 repeater.

The Huawei Marine Networks Co. logo is displayed on an R1 repeater.

Photographer: Brent Lewin/Bloomberg

Bloomberg News

Huawei Technologies Co. is selling its majority slice of its global submarine cable division, exiting the business of laying undersea piping for the internet just weeks after the Trump administration blocked it from buying American technology.

Huawei’s corporate parent is selling its 51% of Huawei Marine Networks to Hengtong Optic-Electric Co., a Jiangsu-based optical-cable manufacturer, according to a stock exchange filing. The deal isn’t formalized and subject to change, Hengtong said in the filing. The Chinese company, whose Shanghai-listed shares have been suspended from trade, didn’t disclose the size of the deal.