China Daily – Alibaba, Tencent want pieces of telecom giant

There have been reports that Alibaba and Tencent, along with other Chinese tech players, have a plan to invest $12 billion into China Unicom.

August 2, 2017

‘China United Network Communications Group Co, the country’s second-largest mobile carrier by subscribers, has set up two operating centers to deepen cooperation with Alibaba Group Holding Ltd and Tencent Holdings Ltd.

The move signals that Alibaba and Tencent are almost certain to become shareholders of China Unicom, as the State-owned telecom carrier accelerates its push for mixed-ownership reform, analysts said.’

Read the Full Story