China Unicom and Alibaba Ink Strategic Cooperation Agreement
Yicai Global
/SOURCE : Yicai
China Unicom and Alibaba Ink Strategic Cooperation Agreement

(Yicai Global) Nov. 14 -- China's e-commerce giant Alibaba Group Holding Ltd. [NYSE:BABA] has signed a strategic cooperation agreement with China Unicom Ltd. [NYSE:CHU], one of the country's top three telecom carriers. They will work closely on basic communication services, mobile Internet and internet solutions for industry.

China Unicom's major shareholder, the State Council's Asset Supervision and Administration Commission revealed the news via its official Weibo account.

Alibaba and China Unicom will capitalize on their respective strengths in technology, resources and ecosystems in the internet industry and work closely to accelerate the building and development of the mobile internet, the SASAC said.

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