Saturday, 18 November 2017

China Unicom confirms Alibaba, Baidu, Tencent as new shareholders

By Nick Wood, Total Telecom
Wednesday 16 August 17

Telco expects to raise €9.5 billion from group of 14 investors; will use funds to upgrade 4G network, implement 5G strategy.

As expected, China Unicom on Wednesday confirmed that Web giants Alibaba, Baidu, and Tencent are among more than a dozen companies that will invest a combined 74.72 billion yuan (€9.53 billion) in the operator in a bid to revive its fortunes. Alibaba rival JD.com and ride-hailing firm Didi are part of the group as well (see below for a full list). China Unicom said it expects net proceeds to come in at CNY61…

As expected, China Unicom on Wednesday confirmed that Web giants Alibaba, Baidu, and Tencent are among more than a dozen companies that will invest a combined 74.72 billion yuan (€9.53 billion) in the operator in a bid to revive its fortunes. Alibaba rival JD.com and ride-hailing firm Didi are part of the group as well (see below for a full list). China Unicom said it expects net proceeds to come in at CNY61…

Please login or register to view this content

Please enable JavaScript to view the comments powered by Disqus.

Newsletter signup

Quickly get on board and up to date with the telecoms industry