November 29, 2006, Huawei's official website showed that Huawei has accepted the bid offer from 3COM, the two sides have completed the the bid process of Huawei H3C Technologies Co., Limited.
According to the H3C shareholders agreement, 3COM launched the bid process from November 15, 2006. After the bidding, Huawei reply 3COM on November 28, formally accepted the bid offer of 3COM. After carrying out the relevant legal procedures, 3COM will own H3C wholly.
According to foreign media reports, 3COM spent 882 million U.S. dollars on buying the Huawei's 49% stake in H3C. After that, 3COM acquired full ownership of H3C. March of 2006, sources said Huawei and 3COM would sell their joint venture Huawei-3Com (H3C) to Juniper. An initial price was 1.7 billion U.S. dollars, but ultimately the rumors did not take place.
Originally Posted: China Business Daily
Author: Angulo Fu