Huawei and Chengdu High-tech Acquisition of TD Tech Unconditionally Approved

According to news on February 28, the State Administration for Market Regulation today released the latest list of unconditionally approved concentration of undertakings cases. Among them, the most eye-catching is the case of "Huawei Technology Co., Ltd. and Chengdu High-tech Investment Group Co., Ltd. and other operators acquiring the equity of TD Tech. Co., Ltd." This case has attracted much attention and involves the concentration of undertakings in which Huawei Technologies Co., Ltd. and Chengdu High-tech Investment Group Co., Ltd. jointly acquired the equity of TD Tech Communication Technology Co., Ltd. The State Administration for Market Regulation made an unconditional approval decision on the case, which means that the transaction complies with relevant laws and regulations and will not have an impact on market competition

According to previous reports, the State Administration for Market Regulation announced on January 19 that operators such as Huawei Technologies Co., Ltd. and Chengdu High-tech Investment Group Co., Ltd. Bridge Communications Technology Co., Ltd. Equity Case.

The specific transaction details are: Huawei plans to cooperate with Chengdu Hi-tech Investment Group and other companies to jointly acquire 100% of the equity of TD Tech. TD Tech focuses on the research, development and promotion of communication solutions for industry customers.

Before this transaction, Huawei and Nokia Solutions and Networks GmbH & Co. KG ("Nokia") indirectly held 100% of the shares of TD Tech and jointly controlled TD Tech. Each party held 49% of the shares. %, 51%.

After the transaction is completed, companies including Huawei Technologies Co., Ltd., Chengdu Hi-tech Investment Group, Chengdu Hi-tech Cluster Technology Co., Ltd. (referred to as Chengdu Cluster), and Huagai Venture Capital Management (Beijing) Co., Ltd. will jointly The shareholding company established jointly holds 100% of the equity of TD Tech and jointly controls TD Tech.

In fact, this is not the first time that TD Tech has become a target company.

#On April 9, 2023, Oriental Materials announced that it plans to acquire TD TECH (TD TECH) held by communications giant Nokia through private placement. Bridge Communications) 51% equity, the transaction consideration is 2.1216 billion yuan. Huawei issued a statement that evening, saying that it had no intention or possibility to jointly operate TD Tech with New Oriental New Materials.

In September 2023, New Oriental New Materials Co., Ltd. issued the "Announcement on Receipt of Notice of Termination of the Sale of 51% Equity Interest in TD TECH by NOKIA". The company will actively promote the follow-up matters of terminating this transaction. Further legal measures will be taken as appropriate to safeguard the legitimate rights and interests of the company and its shareholders.

In December 2023, Oriental Materials announced that the company had reached a settlement with Nokia on the acquisition of 51% equity of TD TECH HOLDING LIMITED, terminated the transaction, and signed a "Settlement Agreement" with it.

Related reading:

"Nokia terminates the sale of TD Tech's 51% stake to New Oriental New Materials, Huawei previously expressed opposition"

"Huawei strongly opposed, Oriental Materials announced the termination of the acquisition TD Tech owns 51% of the shares and reached a settlement with Nokia》

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