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China's online giants back deal to shake up state telco

China Unicom's parent to raise US$11.7 billion by selling shares to Chinese firms and employees

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Alibaba Group, Tencent Holdings and Baidu are investing in China Unicom.

Hong Kong

SOME of China's biggest technology players are backing a plan to invest nearly US$12 billion in one of the country's telecommunications giants, the latest move in a broader government push to shake up the country's bloated state-run companies.

But it is an effort that, so

sentifi.com

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