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Huawei Receives Formal Bids For Mobile Device Unit

The mobile device unit of China’s Huawei Technologies has received offers from private-equity firms Bain Capital Partners and Silver Lake Partners, reports WSJ, quoting people familiar with the deal. The source declined to elaborate on the bids, but said Huawei is reviewing the offers, which were submitted by the firms by Friday’s deadline last week. Huawei’s goal is to sell half of the unit for about $2 billion to U.S. investors who could help the company enter the North American market.