The U.S. government has used the merger-approval process to increase its influence over the telecom industry, bringing more companies under its oversight and gaining a say over activities as fundamental as equipment purchases
SoftBank Corp. is readying a plan to allow the U.S. government an unusual level of influence over the operations of Sprint Nextel Corp., a concession to ease security concerns raised by the proposed cross-border takeover.
The U.S. government is seeking oversight of network-equipment purchases as a condition for approving Softbank Corp.’s $20 billion acquisition of U.S. phone carrier Sprint Nextel Corp., a move that appears to be aimed at keeping out Chinese suppliers like Huawei Technologies Co., people familiar with the matter said.
ZTE Corp.’s shares tumbled 15 percent Monday after the company forecast a net loss for the third quarter, and analysts said that the already-tough business climate could get even harsher for the Chinese telecommunications equipment maker.
China issued its strongest statement yet against a U.S. congressional report urging U.S. business to spurn two Chinese telecommunications companies, saying the move could hurt relations between the countries.
The cyber threat to our nation is one of the most serious economic and national security challenges we face. So far, no one has managed to seriously damage or disrupt our critical infrastructure networks. But foreign governments, criminal syndicates and lone individuals are probing our financial, energy and public safety systems every day.
Huawei Technologies Ltd., whose efforts to buy big U.S. companies have been stymied by security concerns, has landed in hot water in Washington for acquiring a small technology firm without first running the deal by the government.
China’s installation of the world’s fastest supercomputer is galvanizing efforts by U.S. government agencies and companies to restore American leadership in the technology, a key tool in such fields as climate research, product design and weapons development.