Ericsson Inc. (ERIC)

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Trump administration officials have talked about inserting the federal government deep into the private sector to stiffen global competition against Chinese telecom giant Huawei Technologies Co.

The ideas, discussed intermittently with U.S. tech giants, private-equity firms and veteran telecom executives, include prodding large U.S. technology companies like Cisco Systems Inc. to acquire European companies Ericsson AB or Nokia Corp.(NOK), according to people familiar with the matter. In more than one case, they said, the company wasn't interested in buying into low-margin businesses.

Policy makers have also discussed shoring up Ericsson and Nokia with tax breaks and export-bank financing, or supporting a private-equity group that would take one of the European equipment makers private. Other proposals would support "open" network technology that would make it easier for U.S. startups to develop new technology for 5G equipment.