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    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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Huawei defense to ask Canada court for delay in CFO's extradition hearings

04/17/2021 | 02:47am EDT
FILE PHOTO: Huawei Technologies CFO Meng Wanzhou leaves her home to attend a court hearing in Vancouver

VANCOUVER (Reuters) - The defense team for Huawei's chief financial officer, Meng Wanzhou, will ask a Canadian court to delay upcoming hearings in her U.S. extradition case, the court said on Friday.

Meng's U.S. extradition hearings have lasted more than two years and she is scheduled to be back in the British Columbia Supreme Court on April 26.

A source familiar with the matter told Reuters the application was a result of an agreement announced last week in a Hong Kong court between Huawei Technologies Co Ltd and HSBC regarding publication of internal documents relating to the fraud allegations against Meng.

The source was not authorised to speak publicly about the matter.

Meng, 49, is facing charges in the United States for allegedly misleading HSBC about Huawei's business dealings in Iran, potentially causing the bank to break U.S. sanctions.

She has been held under house arrest in Canada since her arrest at Vancouver International Airport in December 2018.

Meng's lawyers have been seeking the release of more documents from HSBC, arguing the charges against her were based on a presentation she gave to a senior HSBC executive in 2013. They claim that "an incomplete version" of her statements made in the presentation was used by U.S. authorities to request her extradition, and have pushed HSBC to release documents detailing the contents of the meeting.

A British judge in February blocked the release of internal HSBC documents sought by Huawei.

Meng's extradition hearings are scheduled to wrap up in May, although the potential for appeals on either side means the case could drag on for years.

Canada's justice department did not offer an immediate comment.

(Reporting by Moira Warburton in Vancouver; Editing by Matthew Lewis)

By Moira Warburton


© Reuters 2021
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Financials (USD)
Sales 2021 50 295 M - -
Net income 2021 8 862 M - -
Net Debt 2021 - - -
P/E ratio 2021 15,1x
Yield 2021 3,69%
Capitalization 130 B 130 B -
Capi. / Sales 2021 2,58x
Capi. / Sales 2022 2,50x
Nbr of Employees 224 652
Free-Float 97,9%
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Mean consensus HOLD
Number of Analysts 24
Average target price 6,39 $
Last Close Price 6,42 $
Spread / Highest target 23,6%
Spread / Average Target -0,47%
Spread / Lowest Target -26,4%
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Managers and Directors
NameTitle
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Ewen James Stevenson Chief Financial Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
Steven C. van Wyk Chief Information Officer
John M. Hinshaw Group Chief Operating Officer
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