Reuters exclusively reports Huawei to sell smartphone unit for $15 billion to Shenzhen government, Digital China, others; market reacts

Shares in Digital China Group Co Ltd (000034.SZ) extended their intra-day gains to hit the maximum upper trading limit of 10% after Reuters exclusively reported that Huawei, the world’s second-biggest smartphone maker, planned to sell its budget-brand smartphone unit, Honor, to a consortium led by Digital China and the Shenzhen government in a 100 billion yuan ($15.2 billion) deal.