U.S. Senators Push Investment Scrutiny of Allies Using Huawei
- Bill comes in response to U.K. move to allow Huawei for 5G
- Could lead to scrutiny for real estate, venture capital deals
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A group of U.S. senators wants to remove a preferred investment status for countries such as the U.K. that allow for the installation of Huawei Technologies Co. equipment in their 5G networks.
Senator Tom Cotton, a Republican from Arkansas, is set to introduce legislation as soon as Wednesday that would amend provisions of the Foreign Investment Risk Review Modernization Act, which scrutinizes direct investments such as real estate and venture capital deals by foreign countries in the U.S.