EU considers banning Huawei from members countries’ networks, Bloomberg says

The European Commission is considering turning its 2020 guidance on excluding high-risk vendors like Huawei and ZTE (ZTCOY) from telecom networks into a binding legal requirement for EU member states, Bloomberg’s Jillian Deutsch and Gian Volpicelli report. The proposal, led by European Commission VP Henna Virkkunen, aims to strengthen network security and reduce reliance on Chinese suppliers amid rising geopolitical tensions, according to the report, which adds that the Commission may also restrict Global Gateway funding for non-EU countries that use Huawei equipment in related projects. Public companies that compete with Huawei and ZTE include Ericsson (ERIC), Nokia (NOK), and Cisco (CSCO).