Huawei Sues Sweden Over 5G Ban
Huawei (pvt) has begun arbitration proceedings against the Kingdom of Sweden after the country targeted Huawei specifically by excluding them as a supplier of 5G network products and services and further requiring the company to remove all of the company’s installed equipment by January 1, 2025. The arbitration will take place in the World Bank Group’s International Center for Settlement of Investment Decisions after an appeal in the Swedish court confirmed the decision made in June of 2021 by Sweden’s Post & telecom Authority. With Sweden the 2nd country in Europe (the UK was 1st) to officially ban the company, relations between China and Sweden have been strained with Ericsson (ERIC) expecting some retaliation from the Chinese government, especially as the suit begins. While no damages were specified in the suit, public media says the initial compensation sought was over $500m but could go considerably higher if Huawei can make the case that Sweden has violated its international responsibilities toward Huawei’s international business.
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