China Unicom : In Progress Of A Mixed-ownership Reform

Categories:Company News
Time of issue:2017-08-17 16:50

(Summary description)ChinaUnicomisthecountry'ssecond-largestmobilecarrierbysubscribers,yesterdayithasdecidedtoraiseatotalof$11.7billionfromotherinvestors. ThestrategicinvestorsincludeChinesetechheavyweightsTencentHoldings

China Unicom : In Progress Of A Mixed-ownership Reform

Categories:Company News
Time of issue:2017-08-17 16:50

Information

China Unicom is the country's second-largest mobile carrier by subscribers, yesterday it has decided to raise a total of $11.7 billion from other investors.

The strategic investors include Chinese tech heavyweights Tencent Holdings, Baidu Inc, JD.com Inc, Alibaba Group Holdings Ltd, Didi Chuxing, Suning Commerce Group, as well as Chinese car rail manufacturer CRRC Corp and financial insurance enterprise China Life Insurance Co Ltd. Among them, Tencent, which invested 11 billion yuan, accounted for 5.18 percent of equity interests in China Unicom's Shanghai-listed subsidiary; Baidu ,which poured in 7 billion yuan, accounting for 3.30 percent, while Alibaba and JD invested 4.3 billion yuan and 5 billion yuan, accounting for 2.04 percent and 2.36 percent.

The chief executive of telecom industry website Cctime said China Unicom will cooperate with newly introduced investors in the fields of big data, internet of things, artificial intelligence and cloud computing. Also, telecom carrier will make more efforts in 4G network construction, boosting its broadband penetration rate across the country.

The telecom operator said China Unicom’s first-half net profit rose 68.9 percent to 2.42 billion yuan from 1.43 billion yuan a year earlier, while its revenue decreased slightly to 138.16 billion yuan from 140.26 billion yuan compare last year. In the first half of 2017, its 4G subscriber group witnessed a net increase of 34.26 million to a total of 138.81 million.

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