As a large Chinese corporate still in private hands, Huawei Technologies has a reputation of keeping information tightly under wraps.
Bidders for a Huawei unit are discovering just how tight that lid can be.
Huawei HWT.UL hired Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) in May to sell a majority stake in its mobile handset business, which saw its revenues double last year to more than $2 billion.
A deal could be worth more than $3.5 billion, say private equity and banking sources involved in the process.
At least four major private equity firms, including Bain Capital, are on a short list for the asset, with the hope of a sale coming before the end of the year http://pay-day-home.com guaranteed cash advance.
But the sources say the process is going slower than expected, with Huawei hesitant to give up key information the bidders and their bankers need to evaluate the business.
The process could collapse should Huawei continue to keep data close to its chest, the sources say, with bidders keen on crucial data given the size of the transaction.
“There is a lot more wood to chop on this deal,” said a banker involved with the deal who did not want to be identified.
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