HSBC warns it could face reprisals in China if UK bans Huawei equipment
HSBC Holdings Plc (HSBA.L) Chairman Mark Tucker has warned
Britain against a ban on networking equipment made by Huawei Technologies Co
Ltd, claiming the bank could face reprisals in China, the Telegraph reported on
Saturday.
Tucker made the claim in private representations to British
Prime Minster Boris Johnson's advisers, the newspaper reported here citing
industry and political sources.
Britain designated Huawei a “high-risk vendor” in January,
capping its 5G involvement at 35% and excluding it from the data-heavy core of
the network. It is looking at the possibility of phasing Huawei out of its 5G network
completely by 2023, according to officials.
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