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Huawei may sell 5G technology to Western entity, CEO says

Huawei Technologies Co. Ltd. may sell its 5G technology to a Western buyer in a transaction that could be valued at tens of billions of dollars, The Economist reported.

Huawei CEO Ren Zhengfei told The Economist that the Chinese company would offer the 5G technology, including patents, licenses, codes, technical blueprints and production knowledge, for a one-time fee through the transaction.

The buyer would be able to modify Huawei's source code, which could make the Chinese company lose total access to any telecom infrastructure built from the assets. The executive currently has "no idea" about any potential buyers of the 5G technology.

Huawei, in turn, would retain its existing 5G contracts and would continue selling its own 5G kit.

The move comes after the U.S. government blacklisted the equipment maker due to perceived threats to U.S. national security or foreign policy interest.

U.S. President Donald Trump said last month that the U.S. will not do business with Huawei at least until a new trade deal is struck with China.