Home » China Unicom “joins hands” with Tencent to set up a joint venture for regular business cooperation_Official approval of Unicom and Tencent to set up a new mixed-ownership company

China Unicom “joins hands” with Tencent to set up a joint venture for regular business cooperation_Official approval of Unicom and Tencent to set up a new mixed-ownership company

by admin
China Unicom “joins hands” with Tencent to set up a joint venture for regular business cooperation_Official approval of Unicom and Tencent to set up a new mixed-ownership company

Original title: China Unicom “joins hands” with Tencent to set up a joint venture for regular business cooperation

Cover reporter Fu Wenchao

At noon on November 2, a news that “the State Administration for Market Regulation approved China Unicom and Tencent to set up a new mixed-ownership reform company” attracted widespread attention, and China Unicom quickly rose to the daily limit. However, the cover news reporter inquired about relevant documents and found that this cooperation was not a joint venture company established by state-owned capital to become a major shareholder of Tencent as the outside world speculated, but for regular business cooperation. The cooperation will not have a direct impact on Tencent’s shares.

The reporter learned from the relevant documents published by the Anti-Monopoly Bureau of the Ministry of Commerce that the two parties to the cooperation are China Unicom Venture Capital and Tencent Production Investment, and the content of the cooperation is also the establishment of a new joint venture. The former’s main business is communication, communication facility services, network access, telecom value-added services, and related system integration services; the latter’s main business is venture capital, enterprise management consulting, and investment consulting. At the same time, the ultimate controller of Tencent Industrial Investment is Tencent Holdings Co., Ltd., whose main businesses include communication and social networking, digital content, and financial technology.

In this cooperation, in the same relevant market, the sum of the market shares of all operators participating in the concentration is less than 15%; the operators participating in the concentration with upstream and downstream relationships have a market share of less than 25% in the upstream and downstream markets. . At the same time, the joint venture intends to be mainly engaged in the business of content distribution network (CDN) and edge computing.

See also  Student block banner at the Florence high school: "Free to fight" - Tuscany

According to the “List of Unconditional Approval of Business Concentration Cases from October 17 to October 23, 2022″ released on the official website of the State Administration for Market Regulation on October 27, China Unicom Innovation Venture Capital Co., Ltd. and Shenzhen Tencent Industrial Venture Capital Co., Ltd. The joint venture case was unconditionally approved, and the trial was concluded on October 18.

Prior to this, there were rumors that China Mobile and CITIC Group would acquire Tencent, but these rumors were quickly denied by many parties.Return to Sohu, see more


Editor:

Statement: The opinions of this article only represent the author himself, Sohu is an information publishing platform, and Sohu only provides information storage space services.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy