China called on Thursday for the United States to treat Chinese companies "fairly", after security worries nixed the sale of a network equipment maker to China's Huawei Technologies Co Ltd and Bain Capital Partners, according to Reuters. The two firms withdrew their application for U.S. security approval of a $2.2 billion purchase of 3Com Corp, having failed to satisfy the concerns of a U.S. government panel. While the companies said they were still in discussions and the proposed transaction had not yet been terminated, a source familiar with the situation said the failure kills the deal in its current form. China said its firms deserved better treatment. "This was a normal business investment in accordance with market rules. It was an investment decision made in accordance with (Huawei's) own development," Chinese Foreign Ministry spokesman Liu Jianchao told a regular news conference. "We hope relevant U.S. management departments can deal with this issue fairly and in accordance with the law, to create a fair and favourable environment for Chinese companies in the United States," he added. The Committee on Foreign Investment in the United States (CFIUS) had raised concerns about the deal, through which Huawei -- China's top telecom equipment maker -- would have initially owned as much as 16.5 percent of 3Com, whose Tipping Point unit makes national security software. The panel, led by the U.S. Treasury Secretary, reviews corporate acquisitions involving foreign buyers.
