The Wall Street Journal reported last week that Huawei Technologies Co Ltd, the world's second-largest telecommunications equipment company, is mulling an initial public offering.
A big reason for a Huawei IPO is to expand business while U.S. carriers need faster 4G networks to support exploding data usage. The telecom equipment industry is fast-growing thanks to the increasing global use of mobile technology, which would make cash-rich Huawei a hot IPO.
But an even bigger reason for a Huawei IPO: Going public would make the China-based company more transparent, helping it score big contracts worldwide. Huawei needs to make friends if it's going to continue its global reach.
And the most important friend it has to make to do that is the U.S. government.
That's because the government is incredibly wary of trusting Huawei, so much so that it discourages U.S. businesses from joining forces with the China telecom.
The reasons why sound right out of a James Bond movie: Espionage, a recluse CEO, worries over Communist party control, a threat to wireless communications and risks to national security.
Featured on CBS's "60 Minutes" Oct. 7, the story of Huawei is an eye-opening, eyebrow-raising tale about concerns to U.S. security should the company get a foothold in the United States.
"If I were an American company today, and I'll tell you this as the chairman of the House Permanent Select Committee on Intelligence, and you are looking at Huawei, I would find another vendor if you care about your intellectual property, if you care about your consumers' privacy, and you care about the national security of the United States of America," Rep. Mike Rogers, R-MI, told "60 Minutes" correspondent Steve Kroft.