SoftBank Corp. plaque is prepared at a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan, December 19, 2018. REUTERS/Issei Kato
(Reuters) – SoftBank Corp is not expected that a technology impact, if not use 5G network gear from the Chinese tech-giant Huawei [HWT.UL] and had found the same level of quality from other suppliers, an executive said at a press conference on Wednesday.
The Japanese telecom operator said it had not made a decision about the switching of the Chinese manufacturers of equipment and are required to understand and comply with the directives of the government.
SoftBank Corp shares tumbled more than 14 percent on their debut on Wednesday, as investor appetite for Japan’s largest-ever IPO, hurt by a recent outage of the service with the company and worry about the exposure to Huawei.
Huawei has been virtually locked out of the AMERICAN market and banned by Australia and New Zealand, from the build of 5G networks in the middle of sure his gear could facilitate Chinese espionage. Huawei has repeatedly urged Beijing has no influence on this.
Sources had told Reuters that SoftBank plans to replace the 4G-network equipment from Huawei with hardware from other vendors.
Reporting by Sam Nussey in Tokyo; Editing by Muralikumar Anantharaman