China's Huawei Technologies Co Ltd's said Friday its acquisition of U.S. network equipment maker 3Com Corp with Bain Capital Partners LLC is for nothing but a business investment.
Huawei, the country's top telecom equipment maker, made the announcement after the three parties withdrew their joint filing to U.S. regulators concerning the $2.2 billion proposed acquisition.
"Huawei joined in the acquisition of 3Com at the invitation of Bain Capital Partners LLC in early 2007 as a minority partner. Both sides launched the acquisition for business concern," according to a statement released by Huawei on Friday.
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