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Canada court grants Huawei CFO bail

Vancouver/Beijing

A CANADIAN court on Tuesday granted bail to a top executive of Chinese telecoms giant Huawei Technologies Co Ltd while she awaits a hearing for extradition to the United States, a move that could help placate Chinese officials angered by her arrest.

Meng Wanzhou, 46, Huawei's chief financial officer and the daughter of its founder, faces US accusations that she misled multinational banks about Iran-linked transactions, putting the banks at risk of violating US sanctions.

Justice William Ehrcke, at a court hearing in Vancouver, British Columbia, on Tuesday granted bail to Meng, subject to a guarantee of C$10 million (S$10.27 million) and other conditions.

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She must remain in Canada and be subject to electronic monitoring and security when she leaves her residence. The courtroom erupted in applause when the judge granted bail. Meng began crying and hugged her lawyers, before being ordered back into the prisoner box for more directions from the judge. She was ordered to reappear in court on Feb 6. Huawei, which makes smartphones and network equipment, said in a statement that it looked forward to a "timely resolution" of the case.

"We have every confidence that the Canadian and US legal systems will reach a just conclusion," it said, adding that it complied with all laws and regulations where it operates.

China had threatened severe consequences unless Canada released Meng immediately. REUTERS