US and Five Eyes countries following US are banning Huawei for strategic reasons, not for technical reasons. Telecom infrastructure is strategic industry and US want's to prevent Chinese getting ahead. US can't compete directly because US is out from 4G/LTE/5G game and US based companies are only component providers (Qualcomm and others).
>but nevertheless permitted it to compete for up to 35 percent market share in the country’s access network—that is, its antennae and similar equipment.
There is magical thinking involved if someone thinks that base stations alone completely break national security. Mobile networks involve huge number of components. The components and the software in the mobile core network and services pose more risk than base stations. Interfaces are standardized and you can buy different components from different vendors.
European network operators (especially if they have government contracts) have silently limited what they buy from Huawei. Base stations and most hardware is OK. Operating services, network control, visitor and location registers, mobile switching centers, network monitoring, and rest of the software that deals with the core network can be bought from others. Many EU countries just "happen" to have one or two carriers with strategically shielded core networks without formally banning Huawei.