Tech firms, state-backed funds in $12b China Unicom deal
State-owned telecom group China Unicom said it will raise RMB78 billion ($12 billion) from private and state investors – including domestic technology companies, Qianhai FoF and China Structural Reform Fund – in response to the government’s mixed-ownership reform policy.
Ten strategic investors will buy a collective 35.19% stake in Shanghai-listed unit China United Network Communication, a filing showed. The sale includes nine billion new shares and 1.9 billion existing...
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