Huawei is reportedly looking to raise US$1.5 billion in new financing, with approximately 10 banks competing to participate.
Citing multiple, unnamed industry sources, Marbridge Consulting reported the news but was unable to add any further background at this time.
When a journalist called a Huawei representative inquiring why the company was raising money or if it was planning an IPO, the representative declined to comment at this time.
Back in 2008, the company cancelled the sale of its handset division due to the ongoing economic crisis at the time. The sale was expected to have raised upwards of US$2 billion for the company at the time.
On the web: Marbridge Consulting