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China Unicom share trading to remain suspended after deal announcement

China Unicom share trading to remain suspended after deal announcement
From Reuters - August 16, 2017

HONG KONG, Aug 17 (Reuters) - Shares in telecoms group China Unicom's Shanghai and Hong Kong listed units would remain suspended, even a day after the group announced raising of $11.7 billion from about a dozen investors including Alibaba Group and Tencent Holdings.

The group's Hong Kong arm, China Unicom Hong Kong, and the Shanghai unit, China United Network Communications Ltd , said in separate notices on Thursday that trading in their shares would remain halted until further notice.

They did not give any reason for the move.

Trading in shares of the two listed units of China Unicom were expected to resume on Thursday, a day after the fund raising was announced as part of Beijing's push for state-owned enterprises to be revitalised with private capital.

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