Friday, June 18, 2010
Huawei's staff own 98.58% of stock: report
Huawei's staff own 98.58% of stock: report
Robert Clark |
June 07, 2010
telecomasia.net
Thumbnail:
Huawei’s staff own 98.58% of the company’s stock and CEO Ren Zhengfei holds 1.42%, a Chinese newspaper has reported.
Quoting an un-named source, the Beijing Times says the company’s yet-to-be-released corporate social responsibility (CSR) report reveals that Huawei Technologies Co. Ltd is wholly-owned by Shenzhen Huawei Investment Holdings Ltd.
Huawei staff hold their company stakes through Shenzhen Huawei under a company employee share ownership scheme operated by the company union. Huawei has 95,000 workers, of which 61,457 own shares in the company, the report said.
Huawei executives have long acknowledged the employee share scheme, which they have described as an important means of raising funds for the privately-held company.
However, the Shenzhen-based firm has never disclosed details of its shareholders, describing itself as “employee-owned.”
The company, co-founded by Ren and other ex-army officers 23 years ago, has encountered suspicion in the US and other foreign markets because of its alleged links to the PLA and the Chinese government.
Huawei and other Chinese vendors last week overcame a ban on the sale of their equipment to Indian carriers on the condition that the gear undergoes strict security checks.
The Indian government has banned the deployment of Chinese-made network equipment in sensitive border areas.
Source:
Facebook
Twitter
LinkedIn
Digg
1 comments
Email
PrintSimilar
Tell Us What You Think
Add comment
Article-CMMA2010
COMMUNICASIA 2010
• Spectrum issues could slow LTE rollouts, warn experts
• The problem with govt NBNs
• Mobile networks still 'not ready for data': Altai
• CDMA roams toward the LTE future
• Huawei signs MoU with Greek telco
• ZTE wins $146 million China Telecom optical deal
• Low-cost green fuel cells to power base stations
• Augmented reality check for mobile marketing
• Photo Gallery: Axell Wireless, TNS, CBOSS
• Photo Gallery: Starling, Thaicom, Inmarsat
Frontpage Title Only
Nokia cuts forecast again, blames competition
AT&T runs out of Apple's iPhone 4
New Wimax femtocell standard released
One in four online minutes spent social networking
Telepresence could deliver $19b in economic gain
XL says no rush for 42Mbps
FASTTAKES: Maxis, Sony Ericsson, Vodafone Hutchison, LGE, GTL, IBM
Video from Telecom Channel
Is Apple getting too big for its boots?
The iPhone 4 is here Apple has changed its developer agreement to restrict release of analytical data to third parties, something Google/Admob may not be too happy about.
Voices_tabs
Frontpage Title Only
Frontpage Title Only
businessweek_industryview
MWC2010 List
Frontpage Content by Category
Industry experts put their heads together and stick their necks out to call the big trends for 2010
