China Unicom Denies Reports of Mixed Ownership Approval
Yicai Global
/SOURCE : Yicai
China Unicom Denies Reports of Mixed Ownership Approval

(Yicai Global) Dec. 1 -- China Unicom Hong Kong Ltd. [HKG:0762] yesterday denied reports that the government has approved a mixed ownership reform program for the state-owned telecoms giant that would see Baidu, Alibaba and Tencent take stakes.

China Unicom's inclusion in the first batch of pilot mixed-ownership projects has not been given the go-ahead, is still under discussion and faces uncertainties, the Beijing-based company said in a filing to the Hong Kong stock exchange yesterday.

Mixed ownership reform aims to give private companies stakes in state-owned enterprises in a bid to boost their efficiency.

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