Shulou(Shulou.com)11/24 Report--

CTOnews.com news on November 2, according to the website of the State Administration of Market Supervision and Administration, the list of cases of unconditional approval of operator concentration released by the second Department of Anti-monopoly Law Enforcement of the State Administration of Market Supervision and Administration shows that the new joint venture between Unicom Innovation Venture Capital Co., Ltd. (Unicom Venture Capital) and Shenzhen Tencent Industrial Venture Capital Co., Ltd. (Tencent Industry Investment) has been approved unconditionally. The closing time is October 18.

CTOnews.com learned that the joint venture intends to mainly engage in content distribution network (CDN) and edge computing business. After the completion of the transaction, Unicom Venture Capital, Tencent Industrial Capital and the relevant employee shareholding platform will hold 48%, 42% and 10% of the joint venture respectively, and Unicom Venture Capital and Tencent Industrial Capital will jointly control the joint venture.

Among them, Unicom Venture Capital was established in Beijing, China on April 29, 2014, and its main business is to invest with its own funds. The ultimate controller of Unicom Venture Capital is China United Network Communications Group Co., Ltd., the main business is communications, communication facilities services, network access, telecom value-added services, related system integration services and so on.

Tencent Industrial Capital was established in Guangdong Province, China on September 17, 2019. Its main business is venture capital, enterprise management consulting and investment consulting. The ultimate control of Tencent Investment is Tencent Holdings Limited, and its main businesses include communications, social networking, digital content, financial technology and so on.

At present, communications concept stocks have changed, and China Unicom has risen by the daily limit. As of CTOnews.com press time, China Unicom's A shares rose 9.97% to 3.75 yuan, with a total market capitalization of 116.123 billion yuan.

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