Huawei merger plan hits a snag

Ren Zhengfei (任正非), a former People's Liberation Army soldier, founded Huawei in 1988. The company has always maintained it is a private company that is wholly owned by its employees.

Although Congress has no direct role in CFIUS reviews, the panel is still smarting from a storm of criticism two years ago when it approved state-owned Dubai Ports World's acquisition of several US port operations.

Congress was so enraged by the approval that it enacted a tougher law requiring CFIUS to spend more time vetting deals and to keep lawmakers better informed.