Regulator approves China Unicom, Tencent JV

The State Administration for Market Regulation approved China Unicom, the country's major telecommunications operator, and Tencent Holdings, a leading internet firm, to set up a joint venture recently, according to the website of the market regulator.

The newly-established joint venture, established by the venture capital arms of two companies, will focus on content distribution network and edge computing business. The venture capital arm of China Unicom will hold 48 percent of the shares while Tencent's subsidiary firm will hold 42 percent.

chengyu@chinadaily.com.cn