Telecom giant plans big push into UK services sector

Chinese telecommunication giant Huawei will spend 3 billion pounds ($4.2 billion) on British technology and services during the next five years, the company has announced.

Huawei is likely to spend the money in a variety of areas, including British telecom tech, chipset intellectual property and financial services from companies in the United Kingdom.

The new commitment comes after Huawei Chairwoman Sun Yafang met with Prime Minister Theresa May during the British leader's three-day visit to China.