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China Unicom mixed reform pilot program has been approved by the NDRC

via:博客园     time:2017/7/25 8:38:18     readed:920

China Unicom HKEx bulletin screenshot

Tencent technology news, the evening of July 24th, China Unicom Chinese Exchange announced in Hong Kong, the parent company of China Unicom Chinese group is planning to A shares as a platform to plan and promote the reform of mixed ownership related major issues, has recently been approved by the NDRC to change the mix of the pilot program, currently China Unicom A shares of the company and potential investors negotiate a list of relevant investors and investment and the proportion of shares should be reported to the relevant departments, after obtaining approval before implementation.

The following is the full text of the announcement of China Unicom's hkex:

Reference is made to the United Chinese communication network (Hongkong) Limited by Share Ltd (the "company") announced on October 10, 2016, November 30, 2016 and April 5, 2017, the company mentioned that the ultimate parent company China United Network Communications Group Company Limited ("China Unicom Group") to the controlling shareholder of the company Chinese United Network Communications Limited by Share Ltd ("Unicom A shares") as a platform, planning and promote the development and reform of mixed ownership on major issues related matters may involve changes in the shares, China Unicom A shares of the company.

China Unicom Group has recently won the approval of the national development and Reform Commission for the pilot program of mixed ownership reform. Due to the major issues related to the reform of mixed ownership, the company's non-public offering of shares of China Unicom A specific implementation plan, including the list of investors, pricing, investment amount, the ratio of shares accounted for, still need to report in accordance with the requirements of the relevant ministries approved before implementation. Recently, China Unicom A share company noted that the media on its mixed ownership reform will be introduced to investors related reports. Unicom A shares of the company and potential investors to negotiate work is still in progress, China Unicom A shares of the company is not aware of the media coverage of the information sources, legal documents are not with any potential investors signed a framework agreement, binding agreement etc..

The company will follow the progress of the matter, in strict accordance with the listing rules and other relevant laws and regulations, timely implementation of information disclosure obligations.

The company also calls upon the investors should be cautious in trading in the company's securities times.

China Unicom's reform process

In October last year, China Unicom was included in the first batch of state-owned enterprises mixed reform pilot, mainly for domestic A shares listed companies China Unicom Limited.

In April 5th this year, China Unicom announced A shares today with the stop plate, the relevant departments of the state requirements of mixed reform in 5 and June reform plan all reported the news, it is generally believed that China Unicom mixed reform entered a substantive stage.

After that, China Unicom issued a stop stop announcement. On May 9th, Wang Xiaochu, chairman of China Unicom, revealed some of the latest developments in the China Unicom hybrid reform program at the China Unicom shareholders' meeting. He said that China Unicom needs to communicate with the ten ministries, involving many departments, difficult, but I hope the sooner the better.

Mentioned mixed reform program, he also revealed that the mixed reform program including the ESOP, employees are the backbone of the core and hold shares, not what the big obstacle, and China Unicom A shares mixed reform program will include the issuance of new shares and old shares for sale.

In May 16th, China Unicom re issued a notice that it will continue to stop for 2 months now, compared with the previous 20 days of parking. The announcement said that China Unicom is actively promoting relevant work on major issues. This is also considered to be mixed change program is refined.

For the performance of the three operators in the bottom of the Chinese Unicom, mix change will introduce a business integration effect of investors, its significance lies in the innovation of China Unicom's business combination, form a new competitive advantage, to reverse the unfavorable situation of the decline. Wang Xiaochu said before, the purpose of mixing reform is not to raise funds, but to cooperate with policy development, so that the operation of the group is more market-oriented.

In the big picture, not just the telecommunications industry, the state's hand to those areas that have long been monopolized will help break the monopoly and amplify the function of state-owned capital.

Since China Unicom confirmed that it has changed, about

Analysts believe that the reason why the outside world China Unicom mix change have great expectations, because private capital to enter, to China Unicom will certainly help, but help what time to play a role, to what extent, at present it is hard to say.

What is mixed change?

Mixed ownership of state-owned enterprises refers to the state-owned enterprises to join private (Unofficial) capital, making state-owned enterprises into multi shareholding, but still state-controlled enterprises, to participate in market competition.

At present, there are three main ways to promote the reform of mixed ownership:

1, introduce non-state capital to participate in the reform of state-owned enterprises

2, the introduction of non state-owned capital to participate in the reform of state-owned enterprises, state-owned capital investment and operation company for the development of potential, good growth of non state-owned enterprises equity investment

3, explore the implementation of mixed ownership esop. Employee stock ownership mainly adopts capital increase, new investment and so on

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