Exclusive: Huawei in talks to sell parts of its Honor smartphone business – sources

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

FILE PHOTO: Huawei’s new Honor 20 smartphone is seen at a product launch event in London, Britain, May 21, 2019. REUTERS/Peter Nicholls/File Photo

Embattled Huawei is resetting its priorities due to U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere

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Exclusive: Huawei in Talks to Divest Parts of Honor Smartphone Business, Sources Say | Investing News

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd <000034.SZ> and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said.

Digital China, the main distributor for Honor

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Total Launches Sale of Resins Business: Sources | Investing News

FRANKFURT (Reuters) – French oil group Total

is launching the sale of its resins business as it streamlines activities to free up cash to invest in renewable energy, people close to the matter said.

The company is working with Credit Suisse

as its adviser for the sale of operations featuring the Cray Valley brand, they said, adding the unit could be valued at 500-600 million euros ($588-705 million), including debt, in a deal.

Total is expected to send out information packages on the unit in the coming weeks to prospective buyers, mainly private equity firms, the people said.

Total and Credit Suisse declined to comment.

Total said last week it was planning to hike annual investments in renewable energy and electricity by 50% and cut its reliance on oil, emulating European rivals in a bid to become a major low-carbon power producer.

Faced with gloomy long-term prospects for oil demand,

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