Home » The State Administration for Market Regulation approves China Unicom and Tencent to set up a new mixed-ownership company_Oriental Fortune Network

The State Administration for Market Regulation approves China Unicom and Tencent to set up a new mixed-ownership company_Oriental Fortune Network

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The State Administration for Market Regulation approves China Unicom and Tencent to set up a new mixed-ownership company_Oriental Fortune Network

Summary

[The State Administration for Market Regulation approves China Unicom and Tencent to set up a new mixed-ownership reform company]According to the news on November 2, according to the “October 17, 2022-October 23, 2022 Unconditional Approval for Concentration of Operators” released on the official website of the State Administration for Market Regulation on October 27 According to the List of Cases, the new joint venture case between Unicom Innovation and Venture Capital Co., Ltd. and Shenzhen Tencent Industrial Venture Capital Co., Ltd. was unconditionally approved, and the trial was concluded on October 18.


According to the news on November 2, according to the “List of Unconditional Approval of Concentration of Business Operators 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 industryVenture capitalThe case of establishing a new joint venture with a limited company was unconditionally approved, and the trial was concluded on October 18.

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According to recent news on the website of the Second Division of Law Enforcement of the Anti-monopoly Bureau of the State Administration for Market Regulation, China Unicom Innovation and Venture Capital Co., Ltd.Venture capital”) and Shenzhen Tencent IndustryVenture capitalCo., Ltd. (“Tencent Production and Investment”) intends to set up a new joint venture. The case involves the declaration of concentration of operators, which has been unconditionally approved. The trial will be concluded on October 18. Affected by this news, on the afternoon of November 2,China UnicomA shares pulled up the daily limit in late trading, and for H shares, as of 15:00 on November 2,China Unicomrose slightly by 1.2%,Tencent HoldingsIt edged up 1.4%.

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The public statement of the simple case of concentration of operators submitted by both parties shows that China Unicom Venture Capital and Shenzhen Tencent Industrial Investment intend to jointly establish a joint venture.Among them, China Unicom Ventures, Tencent Industrial Investment, and relevant employee stock ownership platforms will hold 48%, 42%, and 10% of the newly established joint venture, respectively. Unicom Ventures and Tencent Industrial Investment jointly control the joint venture. Mainly engaged in Content Delivery Network (CDN) andedge computingbusiness.

Unicom Venture Capital was established in 2014. Its main business is investment with its own funds. Its ultimate controller is China United Network Communications Group Co., Ltd., and its main businesses are communications, communications facility services, network access, telecom value-added services, and related system integration. business etc.Tencent Industrial Investment was established in 2019. Its main businesses are venture capital, business management consulting, and investment consulting. Its ultimate controller isTencent HoldingsLtd.

(Article source: Interface News)

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