William Barr thinks the U.S. could buy Nokia or Ericsson to counter China’s Huawei. But selling shareholders would be the only winners in this M&A nightmare, says edwardcropley:
U.S. Attorney General William Barr said on Feb. 6 that the United States should consider taking a controlling stake in Finland's Nokia or Sweden's Ericsson to counter China-based Huawei Technologies’ dominance in next-generation 5G wireless technology.
Speaking at a conference in Washington on Chinese espionage, Barr said American ownership might be achieved “either directly or through a consortium of private American and allied companies". He did not provide further details. Cevian Capital, a major Ericsson shareholder, said on Feb. 7 that the U.S. interest was positive, although any deal would have to be based on a “completely different valuation”.
Shares in Ericsson were up 4.9% at 83.04 Swedish crowns by 0837 GMT on Feb. 7. Nokia shares were up 4.7% at 3.86 euros.
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