Fight for state-support to buy HP unit

Beijing

THE bidding for a controlling stake in Hewlett-Packard Co's data-networking business in China, worth more than US$2 billion, has thrown up a rare tussle between two Chinese state-backed firms that are wrangling over which has Beijing's backing.

The spat involving China Huaxin Post and Telecommunication Economy Development Center and Tsinghua Unigroup could prolong the sale negotiations, and highlights the complexity of cross-border investment policies that China has sought to streamline.