China Unicom and Tencent set up a new mixed-ownership company

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.

The relevant simple case publicity form shows that the newly established joint venture is planned to be mainly engaged in content distribution network (CDN) and edge computing business. After the transaction is completed, China Unicom Ventures, Tencent Industrial Investment, and relevant employee stock ownership platforms will hold 48%, 42%, and 10% of the joint venture, respectively, and China Unicom Ventures and Tencent Industrial Investment will jointly control the joint venture.