News Formal

Tencent and China Unicom gain approval to set up 'mixed ownership' company

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Chinese tech giant Tencent Holdings and state-owned telecommunications firm China Unicom have received regulatory approval to set up a so-called 'mixed ownership' company, a public document showed on Wednesday.

have received regulatory approval to set up a so-called "mixed ownership" company, a public document showed on Wednesday.

China has been accelerating its push for mixed-ownership reforms in an effort to boost the competitiveness of state firms.Shares in China Unicom surged 10% in Shanghai, forcing a temporary suspension of trade. Trade in its Hong Kong-listed sharesThe State Administration for Market Regulation approved the application, according to a list it published.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Emerson receive $9.5 billion upfront for sale of stake in climate technologies business; beats Q4 profit expectationsShares of Emerson Electric Co. undefined gained 0.7% in premarket trading, after automation technology and software company confirmed Monday an agreement to...
Source: MarketWatch - 🏆 3. / 97 Read more »