Likely Overreaction to Mixed Ownership’s Impact on China Unicom
China Unicom’s stock price rose around 10% following reports on Bloomberg and other news outlets that Baidu, Alibaba, and Tencent may all buy stakes in China Unicom. China Unicom has confirmed that the reports are premature and that neither the Reform Implementation Plan nor the selection of Unicom Group for the initial pilot run of mixed-ownership reform has obtained final approval. We see the stock price movement as a likely overreaction, given our expectations of limited tangible benefits for...China Unicom (Hong Kong) is an investment holding company. Through its subsidiaries, Co. is a telecommunications operator in China. Co. is engaged in providing mobile voice, fixed-line voice, fixed-line broadband, data communications and other telecommunications services to its customers.Co. is engaged in the provision of cellular and fixed-line voice and related value-added services, broadband and other Internet-related services, information communications technology services, and business and data communications services. The GSM cellular voice, WCDMA cellular voice, TD-LTE cellular voice, LTE FDD cellular voice and related value-added services are referred to as the .mobile business.
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