(Yicai Global) Nov. 30 -- With continuing reform on the acquisition of China's mobile communication enterprises, the country's three internet giants, will move to invest in China United Telecommunications Corp. [HK:00762] and hold differing shareholding ratios.
China Unicom has finalized the reform scheme for the mixed equity system and will submit it for approval to the regulator, insiders revealed on Tuesday, the Paper reported.
China Unicom having huge internet enterprises such as Baidu Inc. [NASDAQ:BIDU], Alibaba Group Holding Ltd. [NYSE:BABA] and Tencent Holdings Ltd. [HKG:0700], commonly known as BAT, as shareholders could form complementary relationships in business and promote all parties' competitiveness, market analysts said.
"Provided BAT buys into China Unicom, they will have a say in China Unicom's operation and direction. As they have better ideas on consumers' demands, the future products of China Unicom will be more user-friendly," the insider said.