Huawei to 3Com: “I'll be back”

Just like the famous Terminator character, giant Chinese networking powerhouse Huawei has told 3Com: “I'll be back” The Wall Street Journal reported today that Huawei and Bain Capital plan to resubmit an application seeking U.S. approval for their planned $2.2 billion buyout of 3Com within the next several weeks, according to people familiar with the matter.

3Com issued a press release that it will immediately adjourn today's shareholder meeting without taking a vote on the pending merger transaction. The shareholders' meeting will be reconvened on Friday, March 7th 2008, hopefully, with a new merger proposal from Huawei and Bain Capital to submit for 3Com shareholder approval.

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Copyright © 2008 IDG Communications, Inc.

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