Sweden Bans Huawei, ZTE From New 5G Infrastructure

(Bloomberg) — Sweden has banned Huawei Technologies Co. and ZTE Corp. from gaining access to its fifth-generation wireless network, adding to the increasing number of European governments forcing local telecom companies to shift away from Chinese suppliers.

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The Swedish Post and Telecom Authority said in a statement Tuesday that the “influence of China’s one-party state over the country’s private sector brings with it strong incentives for privately owned companies to act in accordance with state goals and the communist party’s national strategies.”

It went on to say that the two Chinese technology giants must be blocked from existing infrastructure by January 2025.

The U.S. has described Huawei as the “backbone” of surveillance efforts by the Chinese communist party, and is pressuring European governments to block the technology company from gaining access to 5G networks. The U.K. has already imposed an outright ban on Huawei’s 5G equipment, while German

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GTT Stock Up on Pact to Sell an Infrastructure Unit at $2.15B

GTT Communications  (GTT) – Get Report shares jumped Friday after the telecom carrier said it agreed to sell its fiber and data center infrastructure division to private equity firm I Squared Capital for up to $2.15 billion.

GTT is shifting its focus to cloud networking services. 

Its shares at last check jumped to $5.39, up 7.6%. They have dropped 50% year to date amid stiff competition in the telecom industry.

The $2.15 billion sale price includes a cash payment of $2.02 billion at closing and total deferred payments of up to $130 million based on certain financial results.

“The divestment of the highly differentiated infrastructure division assets will ensure greater focus on network investment and development of high-speed infrastructure services under the more specialized ownership of this experienced investor,” GTT’s chief revenue officer and interim CEO, Ernie Ortega, said in a statement.

“The deal enables GTT to reinforce

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