Huawei Shortlists 5 Bidders for Mobile Device Unit

Dow Jones Newswires, 7/22/08

Sources familiar with the situation have stated that the sale of the mobile device unit of Chinese telecom equipment manufacturer Huawei has been narrowed down to a short-list of 5 bidders, two of which are consortiums. The 5 bidders include Bain Capital Partners, the private-equity arm of Goldman Sachs, Kohlberg Kravis Roberts, a consortium comprised of Silver Lake Partners and Providence Equity Partners, and another consortium comprised of AEA Investors and General Atlantic.

Second-round bidding is expected to commence in a few weeks, once the companies have completed due diligence.

Editor's Note: For more background on this topic, please see "Bidding on Huawei's Mobile Unit Moves Forward", MD 7/02/08 issue.

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