China Unicom to welcome private capital?

7 Apr 2017

China Unicom is expected to announce mixed-ownership reform plans, as part of a Chinese government push to draw private capital into its state-owned enterprises (SOEs), Bloomberg reports, citing a person familiar with the matter. Shares of Hong Kong-listed China Unicom (Hong Kong) Limited, whose market value exceeds USD30 billion, and China United Network Communications Ltd, which is listed in Shanghai, were suspended from trading on Wednesday 5 April, pending an announcement. Official confirmation is expected to materialise within a matter of days, the source noted.

In recent months, the news agency notes that China Unicom has signed cooperation agreements with Baidu, Alibaba and Tencent, prompting speculation that the internet companies could get involved in the government’s mixed-ownership plan.

China, China Unicom