Chinese telecommunications equipment maker ZTE Corp. is planning to focus on organic growth in the near term and has no plans for acquisitions, its chairman Hou Weigui said Thursday.
In an interview with Dow Jones Newswires, Hou said the company isn't interested in Motorola's handset operations and also isn't interested in Nortel Network's technology business.
"An acquisition (of Motorola and Nortel) doesn't make sense to us as the synergies won't be big enough to cover the costs," said Hou.
"We had some small acquisitions in China in the past but we don't have the financial capability to acquire big companies like Motorola."
Source:Dow Jones
