Hutchison Telecommunications Hong Kong Holdings logo

215 - Hutchison Telecommunications Hong Kong Holdings News Story

HK$1.18 -0.0  -0.8%

Last Trade - 3:24am

Mid Cap
Market Cap £581.3m
Enterprise Value £77.2m
Revenue £511.8m
Position in Universe 1058th / 5993

INSTANT VIEW-UK bans Huawei from its 5G network: reaction

(Adds BT)
    LONDON, July 14 (Reuters) - Prime Minister Boris Johnson has
ordered Huawei equipment to be purged completely from Britain's
5G network by 2027, risking the ire of China by signalling that
the world's biggest telecoms equipment maker is no longer
welcome in the West.*:nL5N2EL15K
    Following is some early reaction:

    Digital Secretary Oliver Dowden said:
    "5G will be transformative for our country, but only if we
have confidence in the security and resilience of the
infrastructure it is built upon."
    "Following U.S. sanctions against Huawei and updated
technical advice from our cyber experts, the government has
decided it is necessary to ban Huawei from our 5G networks."
    "No new kit is to be added from January 2021, and UK 5G
networks will be Huawei free by the end of 2027. This decisive
move provides the industry with the clarity and certainty it
needs to get on with delivering 5G across the UK."
    Huawei spokesman:
    "This disappointing decision is bad news for anyone in the
UK with a mobile phone. It threatens to move Britain into the
digital slow lane, push up bills and deepen the digital divide.
Instead of ‘levelling up’ the government is levelling down and
we urge them to reconsider. We remain confident that the new US
restrictions would not have affected the resilience or security
of the products we supply to the UK.
    "Regrettably our future in the UK has become politicized,
this is about US trade policy and not security. Over the past 20
years, Huawei has focused on building a better connected UK. As
a responsible business, we will continue to support our
customers as we have always done.
    "We will conduct a detailed review of what today’s
announcement means for our business here and will work with the
UK government to explain how we can continue to contribute to a
better connected Britain."
    Finnish telecom gear maker Nokia NOKIA.HE is ready to
replace Huawei HWT.UL equipment in Britain, the head of Nokia
Britain said on Tuesday following the UK's decision to stop
using the Chinese manufacturer.*:nL5N2EL3OP
    "We have the capacity and expertise to replace all of the
Huawei equipment in the UK's networks at scale and speed, and
are ready to step up to support the implementation of the UK
government decision with minimal impact on the people using our
customers’ networks," Cormac Whelan said.
    "We note the government’s announcement today relating to the
use of Huawei equipment in the UK. The security and resilience
of our networks is an absolute priority for BT. 
    "While we have prepared for a range of scenarios, we need to
further analyse the details and implications of this decision
before taking a view of potential costs and impacts."

 (Reporting by UK bureau, editing by William James)
 ((; 07825218698;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.