News Snapshot:
The subsidy of the world's largest provider of IT equipment was established in 2013 but has operated independently of its parent company, and the recent divestment will allow the budget smartphone firm to avoid US sanctions, according to a major report. Huawei Technologies will sell its Honor budget series smartphone enterprise via a 100bn yuan ($15.2bn) deal, Reuters reported on Tuesday , citing sources familiar with the matter. The Chinese tech giant will sell its Honor phone brand to a consortium led by Digital China, a handset distributor, as well as the investors from the Shenzhen government, it was revealed....