Huawei spying

Huawei is reportedly under a national security review after allegations that the company's mobile equipment is capable of spying on Americans. As a result of those accusations and fears, SoftBank and Sprint are reportedly going to promise not to deploy the Chinese tech firm's equipment on Sprint's network. SoftBank is set to acquire 70 percent of Sprint for $20 billion.

"I have met with Softbank and Sprint regarding this merger and was assured they would not integrate Huawei in to the Sprint network and would take mitigation efforts to replace Huawei equipment in the Clearwire network," Representative Mike Rogers told Bloomberg in a statement. Rogers works on the House Intelligence Committee, which is arguing that all deals with Huawei in the U.S. should be blocked.

It is a "sad day for free and open global trade and it does nothing to secure the network," a Huawei spokesperson told Bloomberg in response to the report.

Huawei's phones are deployed on several carriers in the United States, including T-Mobile, although the issue appears to be with backhaul equipment that actually powers U.S. wireless networks.