China Unicom Will Work With Tencent, Alibaba on Cloud Services, Former Says
Dou Shicong
/SOURCE : Yicai
China Unicom Will Work With Tencent, Alibaba on Cloud Services, Former Says

(Yicai Global) Oct. 20 -- China United Network Communications Group Co. (China Unicom), one of the country's three major mobile operators, said it will work with the internet giants Tencent Holdings Ltd. [HK:0700] and Alibaba Group Holding Ltd. [NYSE:BABA] in its first batch of cooperation projects with strategic investors since it announced its mixed-ownership reform plan in August.

China Unicom said it will build a new ecological platform for the internet industry with Tencent, relying on its resources and technological capacity in the fields of communication, cloud computing and network security, to create a cloud data center, provide cloud computing services to corporate clients and establish a network security platform.

China Unicom later announced similar projects with Alibaba to develop cloud computing resources together and comprehensively collaborate in the cloud business to further their partnership. The two parties signed a cooperation agreement in November last year.

Internet technology companies including Tencent, Alibaba and other strategic investors will hold 35.19 percent of China United Network Communications Ltd.'s [SHA:600050] shares, per China Unicom's reform scheme.

China Unicom will reduce its stake in China United Network Communications Ltd. to 36.67 percent from current 62.74 percent under the mixed-ownership reform plan.

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Keywords: MSCI , TENCENT , Alibaba , Mixed-Ownership Reform