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The RWA is concerned that an executive order could force its members to remove ZTE and Huawei equipment and also bar future purchases, said Caressa Bennet, RWA general counsel black onyx cufflinks square. It would cost $800 million to $1 billion for all RWA members to replace their Huawei and ZTE equipment, Bennet said. Separately, the FCC in April granted initial approval to a regulation that bars giving federal funding to help pay for telecommunication infrastructure to companies that purchase equipment from firms deemed threats to U.S. national security, which analysts have said is aimed at Huawei and ZTE..
The FCC is also considering whether to require carriers to remove and replace equipment from firms deemed a national security risk. In March, FCC Chairman Ajit Pai said “hidden ‘back doors’ to our networks in routers, switches — and virtually any other type of telecommunications equipment – can provide an avenue for hostile governments to inject viruses, launch denial-of-service attacks, steal data, and more.”. In the December filing, Pine Belt Communications in Alabama estimated it would cost $7 million to $13 million to replace its Chinese-made equipment, while Sagebrush in Montana said replacement would cost $57 million and take two years black onyx cufflinks square.
(Reuters) – U.S. cannabis retailer Green Growth Brands Ltd (GGB.CD) said on Thursday it would make a hostile takeover bid for Aphria Inc (APHA.TO) in an all-stock deal valuing the Canadian pot producer at C$2.8 billion ($2.06 billion). Several companies are looking to partner with or buy pot firms to explore opportunities in the Canadian cannabis sector after the country legalized recreational use of marijuana in October. Green Growth would offer 1.5714 shares for each Aphria share, representing a premium of 45.5 percent over Aphria’s closing price on the Toronto Stock Exchange on Dec. 24 black onyx cufflinks square. The offer is based on a valuation of C$7.00 per Green Growth share..
Aphria did not immediately respond to a request for comment. Green Growth said its advisers reached out to Aphria last week after a meeting with the company and after having taken a tour of its facilities earlier this year. Green Growth then arranged a call with the Aphria board that included a presentation laying out their offer, Green Growth CEO Peter Horvath told Reuters, adding that the company did not hear back from Aphria. The rationale underlying the bid was recent market declines which also hit the cannabis sector. Among Green Growth’s strengths are a U.S. market footprint and experience, and its $54 million in trailing 12-month revenue already outstrips Aphria’s, Horvath said black onyx cufflinks square.
Green Growth said its retail strength and Aphria’s low-cost cultivation and near-term production capacity would create a strong combination. Earlier this month, Marlboro cigarette maker Altria Group Inc (MO.N) invested $1.8 billion in Cronos Group Inc (CRON.TO), representing by far the biggest investment by a major tobacco conglomerate in a cannabis company. Green Growth said it had engaged Aphria’s board for a “friendly business combination” before launching the hostile bid and claimed it has the support of Aphria shareholders who hold about 10 percent of the outstanding shares black onyx cufflinks square.