February 6, 2018 / 2:34 PM / 10 months ago

China's Huawei pledges new 3 bln stg investment in Britain

FRANKFURT, Feb 6 (Reuters) - China’s Huawei Technologies plans to spend a further 3 billion pounds ($4.2 billion) in Britain on procurement, the chairwoman of the world’s largest maker of telecom equipment said on Tuesday.

Huawei Chairwoman Sun Yafang made the pledge last week in a meeting with Prime Minister Therese May during a trade mission to China where the British leader walked away with deals worth more than 9.3 billion pounds (reut.rs/2EzkRUX).

In a statement issued in Beijing, Huawei said the new agreement builds on a 2012 pledge to spend 1.3 billion pounds between 2013 and 2017, which resulted in the company actually investing or procuring 2 billion during that five-year period. ($1 = 0.7215 pounds) (Reporting by Eric Auchard; editing by Kate Holton)

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