Nokia and Ericsson shares got a boost. So someone made a profit on that stock tip.
Bill Barr was previously a lawyer for US phone carrier Verizon.
Meanwhile, much of Ericsson and Nokia hardware is built in China.
“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,” Barr said in a speech to a Washington think tank conference on China.
“We and our closest allies certainly need to be actively considering this approach,” Barr said.
The United States alleges that the Chinese government could use Huawei’s equipment for espionage, which Huawei denies.
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Updated Feb 7, 2020 » Reuters » ‘No concrete proposition’ from U.S. to back Huawei rival Ericsson: Swedish minister