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CSRF actively participates in China Unicom’s mixed-ownership reform

The Group’s Headquarters     2017-08-21         

On August 16, China Structural Reform Fund Corporation Limited (CSRF) signed a ‘Share Transfer Agreement’ with China United Network Communication Group Limited (China Unicom). CSRF will invest RMB 12.975 billion to purchase the shares of A-Share of China Unicom owned by China Unicom Group. After the transaction, CSRF will hold 6.11% of China Unicom’s A-Share and become its third largest shareholder.

China Unicom is among the first batch of pilot central state-owned enterprises to carry out mixed-ownership reform, and is also the only central SoE to launch mixed-ownership reform at the group level, which plays an important exemplary role for central SoEs’ mixed ownership reform. CSRF has been actively participating in China Unicom’s mixed-ownership reform, which exemplify the important strategic measure CSRF plays in serving the supply-side structural reform at the national level. Together with the Internet enterprises and leading companies in vertical industries like China Life Insurance, Tencent, Baidu, JD and 阿里巴巴, CSRF participated in China Unicom’s mixed-ownership reform, which will help China Unicom to establish a mixed-ownership-based ownership structure and diversified board of directors and managers, which is conductive to improving the corporate governance mechanism, strengthening the core competitiveness of state-owned capital in the telecom field and the emerging strategic field, and is of great significance for the implementation of the national information strategy.

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