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U.S. urges allies to consider taking a “controlling stake” in Ericsson and Nokia

By Anton D. Nagy February 7, 2020, 7:00 am

A recent Reuters report is citing U.S. Attorney General William Barr, who said on Thursday that the United States, and its allies, should consider taking a “controlling stake” in Ericsson and Nokia.

The move to control the Swedish and Finnish companies would counter HUAWEI‘s efforts to dominate the 5G market.

Putting our large market and financial muscle behind one or both of these firms would make it a far more formidable competitor and eliminate concerns over its staying power, or their staying power

U.S. Attorney General William Barr

The move could happen, according to Barr, “through American ownership of a controlling stake, either directly or through a consortium of private American and allied companies”.

We and our closest allies certainly need to be actively considering this approach“, he added, while neither Ericsson nor Nokia commented on the matter.

Source: Reuters
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