STOCKHOLM, Jan 31 — Huawei said yesterday it has initiated arbitration proceedings against Sweden under the World Bank Group after the Nordic country banned the Chinese tech giant from rolling out its 5G products.
The company had therefore “initiated arbitration proceedings” under the World Bank Group’s International Centre for Settlement of Investment Disputes “against the Kingdom of Sweden following a number of measures taken by the Swedish authorities targeting directly Huawei’s investments in Sweden and excluding Huawei from the rollout of 5G network products and services in the country,” Huawei added.
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