China's Huawei rules out large acquisitions: report

FRANKFURT Sun Oct 13, 2013 12:17pm EDT

A man walks past a Huawei company logo outside the entrance of a Huawei office in Wuhan, Hubei province, October 9, 2012. REUTERS/Stringer

A man walks past a Huawei company logo outside the entrance of a Huawei office in Wuhan, Hubei province, October 9, 2012.

Credit: Reuters/Stringer

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FRANKFURT (Reuters) - China's Huawei, one of the world's largest telecoms network infrastructure providers, is not planning any large takeovers because it would be unable to integrate them, Deputy Chairman Guo Ping was reported as saying in German paper Welt am Sonntag.

Ping, one of three deputy chairmen who take turns acting as chief executive, was responding to the paper's question on whether he could imagine buying one of Europe's big players in the sector, such as Nokia or Alcatel-Lucent.

Huawei, which is also one of the world's leading handset manufacturers, last month ruled out the possibility of buying another mobile phone maker. However, Ping said that it would be open to cooperation with another handest company, the paper reported.

Ping also rejected allegations from the U.S. Congress that technology from Huawei might be used to spy on its users and denied accusations by the European Commission that it would dump goods on the market at artificially low prices.

(Reporting by Peter Dinkloh; Editing by David Goodman)

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