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Last Trade - 05/03/21

Sector
Telecoms
Size
Large Cap
Market Cap £13.02bn
Enterprise Value £13.97bn
Revenue £5.48bn
Position in Universe 617th / 6651

Brazil backs U.S. Clean Network proposal for transparent 5G technology

Wed 11th November, 2020 2:13am
By Anthony Boadle
    BRASILIA, Nov 10 (Reuters) - Brazil's government on Tuesday
backed the United States' Clean Network proposal to build a
global digital alliance that excludes technology that Washington
sees as manipulated by China's Communist government.
    The adherence came during a visit by Keith Krach, U.S. under
secretary of state for economic growth, energy and environment,
who has advised Brazil not to buy fifth-generation (5G)
telecommunications network equipment from China's Huawei
Technologies Co Ltd  HWT.UL , which he has called "the backbone
of China's global surveillance." 
    Huawei has repeatedly denied being a security risk. It has
said it abides by Brazil's laws and is available for tests and
clarifications that authorities considered necessary.
    "Brazil supports the principles contained in the Clean
Network proposal made by the United States," said a joint
U.S.-Brazil statement issued after Krach met with Brazilian
foreign ministry officials.
    The initiative is "aimed at promoting, in the context of 5G
and other new technologies, a safe and transparent environment
compatible with democratic values ​​and fundamental freedoms,"
it said.
    In Washington, U.S. Secretary of State Mike Pompeo on
Tuesday said almost 50 countries, 170 telephone firms and many
of the world's leading companies have signed on.
    "It includes 27 of 30 NATO allies, 31 of 37 OECD members, 26
of 27 EU members, and 11 of 12 of the Three Seas nations,"
Pompeo said.
    The U.S. government has offered Brazilian telecos finance to
encourage them to buy from Western providers such as Nokia
 NOKIA.HE  and Ericsson  ERICb.ST  instead of Huawei.
    Brazil's top four telecos are already testing Huawei
equipment ahead of next year's auctioning of 5G spectrum
concessions and have said they are reluctant to reduce options.
    The four did not to attend a U.S. embassy invitation to meet
Krach on Friday in Sao Paulo, industry sources told Reuters,
because the invitation was "not compatible with free-market
choices."  urn:newsml:reuters.com:*:nL1N2HT007

 (Reporting by Anthony Boadle; Editing by Christopher Cushing)
 ((anthony.boadle@tr.com +55 61 98204-1110;  https://twitter.com/anthonyboadle
 ;))
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