05 August 2013
| Kavit Majithia
Chinese vendor Huawei has said it will establish a team based in London in the company’s latest move to embrace business in the west.
use the facility predominately to carry out a range of
financial activities, and the company has reportedly hired
several bankers to head up the office.
also carry out a range of risk activities, including foreign
exchange, counterparty and country risk.
Financial Times reports the office is likely to
complement Huawei’s relationships with global
banks and financial institutions, which it has
formed partnerships to fund its largest customers,
including a range of global mobile operators.
to sources, the latest development is further designed aid
Huawei with its own finances and monitor the
group’s financial situation.
also said to be supportive of the move, as there is a bigger
drive to encourage the company to sell shares on public
exchange, including in Hong Kong.
company’s CFO and daughter of founder Ren Zhengfei
said the company was looking to increase investment in growth
areas of the business to boost efficiency. Just last week the
company reported an increase in sales revenue by 11% to $2.3
billion for the first six months of this year.