U.S. Attorney General William Barr said a controlling stake in European telecoms equipment makers would 'blunt' Huawei's 'drive to domination.'
The FT reported, citing officials, that after this decision, Trump and Johnson had a phone call in which the U.S. president expressed anger at the British Prime Minister.
Instead, Barr offered a different option, suggesting the U.S. find a way to take a controlling stake in Nokia and Ericsson. "There have been some proposals that these concerns could be met by the United States aligning itself with Nokia and or Ericsson through American ownership of a controlling stake either directly or through a consortium of private American and allied companies," Barr said.
"An acquisition is really the only alternative if the U.S. wants to be leading in this area . Such an acquisition would in turn mean significant resources to invest on innovation and market leadership," Christer Gardell, managing partner at Cevian Capital, told CNBC by email.
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