Big PE firms aim for Chinese mobile company

The auction for Huawei's mobile device division is boiling. According to the Financial Times, Bain Capital, Kohlberg Kravis Roberts, Silver Lake and a Goldman Sachs private equity unit are safely through to the next round. Meanwhile, TPG, the Carlyle Group and the Blackstone Group either did not bid or failed to make it to the next round. Huawei is being advised by Morgan Stanley. The FT says Huawei wants to sell a significant stake to a private equity firm that can help it expand into the United States. Certainly, such a deal would also represent a key foothold in a country that most regard as laden with deal potential. Bain may have the inside track, given the experience gained when it teamed with Huawei to bid for 3Com, which never panned out. Stay tuned. It's unclear when all this will wrap up.

For more:
- here's the FT article