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ANALYSIS: CFIUS Review Boost Blocks Chinese Telecom Investment

May 10, 2019, 4:31 PM

National security reviews were once the province of specialized, cross-border M&A lawyers. Today, the FCC’s denial of China Mobile’s international telephone services applications gives us some insight into the enhanced impact of CFIUS.

The China Mobile FCC License Application

CFIUS, as amended by the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), now affects a wide range of transactions (CFIUS, Part I) and investments, including some that impact the increasingly difficult U.S.-China economic relationship. The Federal Communications Commission (FCC) decision today to deny the application for a license by China Mobile shows the indirect influence of CFIUS...

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