UK to ban purchase of Huawei's 5G components from end of year

The UK has decided to stop Huawei equipment being used in the 5G network and to ban purchase Huawei components from the end of this year.

"The NCSC (National Cyber Security Centre) has now reported to ministers, that they have significantly changed their security assessment of Huawei's presence in the UK's 5g network," Media Secretary Oliver Dowden told the House of Commons on Tuesday.

"New US sanctions on Huawei was a significant change," Dowden further noted. "US sanctions will have a severe impact on the supply of Huawei gear to the UK."

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the UK's FTSE 100 was down 0.15% on the day at 6,167.