(Yicai Global) Aug. 28 -- Besttone Holding Co. [SHA:600640] -- a subsidiary of China Telecom Corp. [HK:0728] -- will ply strategic cooperation with Ali Sports (Shanghai) Co. a subsidiary of internet titan Alibaba Group Holding Ltd. [NYSE:BABA].

The collaboration covers distribution of event content in the video domain, e-sports events and cloud computing, as well as Big Data and other areas

Besttone Holdings Co. [SHA:600640] is seeking to become the leading internet intelligent entertainment service firm. The agreement is for a term of three years, it announced Aug. 25. Each party will establish four project teams, i.e. a video team, e-sports team, credits team and advertising team.

The joint undertaking will create an industrial ecology covering event operation, copyright, media, business development and airport and hotel ticketing. This will help achieve synergies for both, Besttone said.

Besttone Holding is the only A-share listed company under China Telecom Corp. [HK:0728]. China Telecom and Alibaba signed a comprehensive strategic cooperation agreement in May, and the cooperation between Besttone Holding and Ali Sports represents the blueprint and implementation of the underlying agreement between the substantial shareholders of both parties, the company noted.