Huawei. Photo: VCG

Chinese IT products distributer Digital China said in a statement on Wednesday that no agreement has been reached between them and Huawei on the acquisition of Huawei's Honor, after media reports claimed that a consortium led by Digital China and Shenzhen government will acquire Honor in a $15.2 billion deal.

Previously, Reuters quoted people who claimed to be familiar with the matter as saying Honor's sale price was $15 billion, or 100 billion yuan.

The all-cash sale would include almost all assets including brand, research & development capabilities and supply chain management, Reuters reported on Tuesday, citing people familiar with the case. The report also said that Huawei could announce it as early as Sunday.

Rumors about the sale of the brand have been circulating since October, which stemmed from the concerns over the chip supply disruptions by the US, but have not been confirmed by any side officially.

Apart from Digital China, other companies including TCL were also mentioned in the rumors about Honor acquisition. TCL said on Wednesday that they may issue an announcement on Wednesday or the day after in response to market rumors. 

Although the deal has not been made at the moment, as a regular partner of Huawei, there is a close relationship between the two companies. On the occasion of Huawei Connect 2020 in September, Digital China and Huawei once again signed a strategic cooperation agreement, reaching a consensus on comprehensively deepening strategic cooperation in which both sides agreed that Digital China and Huawei will cooperate on areas including digital transformation, cloud computing, and artificial intelligence around the world.

Digital China shares opened lower in the stock market on Wednesday, but rose by as high as 10 percent, the daily trading limit, as of press time.