Bain Capital Partners announced the termination of its proposed deal with China’s Huawei Technologies Co Ltd to buy US network equipment maker 3Com Corp. This announcement comes after facing opposition by a US security panel, sending 3Com shares down to around 11 percent.

Bain, 3Com and Huawei had voluntarily given joint notice to the security panel, which is led by the Treasury secretary, in connection with the proposed deal.

Bain said that the Committee on Foreign Investment in the US has warned them to block $2.2 billion deal that would also have given Huawei a minority stake of up to 21.5 percent in 3Com.

However various US lawmakers have complained that the deal threatened national security due to Huawei’s alleged relations with the Chinese military as its founder was a former soldier in the People’s Liberation Army.