Alibaba and Tencent will participate in China Unicom's $10 billion financing

　　It is understood that on the evening of June 22, Beijing time, Reuters quoted people familiar with the matter today as saying that technology giants such as Alibaba and Tencent will participate in China Unicom's $10 billion financing.

　　It is reported that the move is also part of the Chinese government's plan to revitalize state-owned enterprises by introducing private assets. Alibaba and Tencent will invest in China Unicom, according to four people familiar with the matter. One of the people familiar with the matter also said that Alibaba and Tencent will lead the investment, while Baidu has withdrawn.

　　China Unicom plans to raise about 70 billion yuan (about 102.5 US dollars), people familiar with the matter said. Thomson Reuters data shows that this will be a well-known financing in Asia since 2010.

　　The people familiar with the matter said that about 50 billion yuan of the total will be raised through the issuance of new shares. In addition, China Unicom also plans to sell part of its equity in its Shanghai listed business unit.

　　In addition to Alibaba and Tencent, other potential investors China Unicom has contacted include some other major Internet companies and state-owned institutions in China, such as China Life Investment Holding.

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