Security Concerns Halt 3com + Huawei Deal

aux.link: Bain ends 3Com deal

Thank God- this was quite unsettling news that I caught wind of in January. Glad some folks a little higher on the food chain thought so as well.

"Bain said on Thursday that the Committee on Foreign Investment in the United States (CFIUS) had said it would block the $2.2 billion deal that would also have given Huawei, China's biggest network equipment maker, a minority stake of up to 21.5 percent in 3Com. Several U.S. lawmakers have complained that the deal threatened national security due to Huawei's alleged ties to the Chinese military. 3Com sells security technology and network equipment to government agencies and large businesses.

Huawei had maintained that it is a private company owned by employees, but founder Ren Zhengfei was a former People's Liberation Army soldier. Huawei and 3Com representatives were not immediately available for comment."

Bain was trying to make it happen even after the security concerns were raised! I can't stand companies that don't consider ethics and security like this. Romney, go slap 'em up.