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在线翻译:
szdaily -> Markets
Unicom to announce investment details
    2017-August-17  08:53    Shenzhen Daily

TELECOM group China Unicom is set to announce funding from Chinese technology firms and other investors, as part of the government’s push for State-owned enterprises to be revitalized with private capital, sources with knowledge of the matter said.

Shares in group firm China Unicom Hong Kong Ltd. were halted from trading yesterday pending an announcement.

Baidu Inc., JD.com, Alibaba Group Holdings and Tencent Holdings are among firms set to jointly invest about US$12 billion in China Unicom’s Shanghai-listed unit, China United Network Communications Ltd., sources with direct knowledge of the matter said last month.

The majority of the fresh capital would be raised through new share issues, while China Unicom would also sell part of its stake in the Shanghai unit, the sources said at that time.

China Unicom, formally known as China United Network Communications Group Co., is one of the world’s largest mobile carriers by user numbers but has struggled in a fiercely competitive market.

The move is part of the government’s drive to rejuvenate State behemoths with private capital, with China Unicom among a first batch of State-owned enterprises to see mixed-ownership reform.

China Unicom Hong Kong asked the stock exchange for the share trading suspension “pending the release of an announcement,” but did not elaborate.

Last month, the company said China Unicom group was in talks with investors but said it had yet to reach any deal.

China Unicom will announce the investment details along with the first-half earnings of the Hong Kong unit, said the sources.

The company, which has a market value of HK$286 billion (US$36.6 billion), last week flagged a 70 percent jump in first-half profit. It also forecast competition would intensify in the second half of the year.

Its shares have risen 32 percent so far this year, outpacing a 24 percent surge in the benchmark index.

China Mobile, the world’s biggest mobile phone operator by subscribers, last week cheered investors with a special dividend and posted a 3.5 percent rise in first-half net profit.

Share trading in China Unicom’s Shanghai-listed unit has been halted since it said in early April it would be part of the government’s mixed-ownership pilot. It gave no further details at that time.

Prior to that suspension, the unit’s market value topped US$23 billion. (SD-Agencies)

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