China's Huawei Technologies said it would invest $3.1 billion in Italy over...
MILAN - China’s Huawei Technologies said it would invest $3.1 billion in Italy over the next three years, as the Chinese telecoms giant called on Rome to ensure the “transparent, efficient and fair” use of its ‘golden power’ on 5G network development.
Speaking at an event in Milan on Monday, the chief executive of the telecoms giant’s Italian unit, Thomas Miao, said Italy’s golden power - which allows the state to intervene in the private sector in the defense of national security - should be extended to all vendors in the European Union. The United States has lobbied Italy and other European allies to avoid Huawei equipment and also to closely scrutinize ZTE, alleging the vendors could pose a security risk. Both companies have strongly denied any such risk.
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