Foreign media: U.S. government considers pushing U.S. tech companies to buy Ericsson or Nokia

To ensure u.S. 5G technology competitiveness, U.S. government officials are considering getting the federal government involved in the private sector, according tomedia reports, and options are being considered to push U.S. technology companies to buy Ericsson or Nokia. The officials discussed the ideas with U.S. tech giants, private equity firms and others, including pushing big U.S. technology companies such as Cisco to buy European companies Ericsson or Nokia, the sources said.

Media: U.S. government considers pushing U.S. tech companies to buy Ericsson or Nokia

However, sources also said Cisco had repeatedly said it had no intention of acquiring low-margin businesses.

U.S. policymakers also discussed supporting Ericsson and Nokia through tax breaks and export bank financing, or supporting private equity firms that are considering privatizing one of the two 5G equipment makers.

U.S. shares closed 2.52 percent to $9.27, or $30.908 billion, Nokia (NYSE: NOK) fell 2.47 percent to $4.34, with a market capitalization of $24.538 billion, and Cisco (NASDAQ: CSCO) rose 2.41 percent to $46.31, or about $19.55 55 billion.