Five private equity bidders have been approved by China's Huawei Technologies Co. to compete for its mobile devices division. The Wall Street Journal reports that the bidders include Bain Capital Partners, Goldman Sachs Group's private equity arm, Kohlberg Kravis Roberts & Co., and Silver Lake Partners.

This deal, which is valued at more than $4 billion based upon the offers, holds enormous potential for the winner because it offers a  rare chance to invest in mainland China. Huawei hopes that a private equity deal will team it with a player that can make inroads in the U.S. market. The assets up for sale include the Chinese company's mobile phone and data card business. 

For more:
- see this WSJ article (sub. req)

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