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China Unicom Eyes $11.6B Investment From Tech Cos.

Law360, New York (August 16, 2017, 6:37 PM EDT) -- State-owned telecommunications company China Unicom expects to raise about $11.6 billion from a group of investors like tech heavyweights Tencent, Baidu and Alibaba, as part of an ongoing privatization being carried out by the Chinese government, according to a Wednesday regulatory filing.

China United Network Communications Group Co. Ltd., or China Unicom, said that its controlling shareholder, known as China United Network Communications Ltd., gained approval from the National Development and Reform Commission to pursue a mixed ownership plan.

That mixed ownership plan is expected to...
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