HSBC warns it could face reprisals in China if UK bans Huawei equipment: Telegraph

HSBC warns it could face reprisals in China if UK bans Huawei equipment: Telegraph

HSBC's building in Canary Wharf is seen behind a City of London sign outside Billingsgate Mark
FILE PHOTO: HSBC's building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London, Britain, August 8, 2018. REUTERS/Hannah McKay

REUTERS: HSBC Holdings Plc 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 https://www.telegraph.co.uk/business/2020/06/06/hsbc-warns-downing-street-chinese-reprisals-huawei, citing industry and political sources.

Britain designated Huawei a "high-risk vendor" in January, capping its 5G involvement at 35per cent 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.

(Reporting by Ismail Shakil in Bengaluru; Editing by Dan Grebler)

Source: Reuters

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