Controlling group increases stake in China Unicom

Thu. September 25, 2008; Posted: 03:37 AM

BEIJING, Sept 25, 2008 (Asia In Focus via COMTEX) -- CHU | Quote | Chart | News | PowerRating -- CHINA UNICOM GROUP announced Wednesday that it bought in 499,999,932 shares of the listed CHINA UNICOM (SSE:600050) via the trading system of the Shanghai Stock Exchange on the same day. The open market purchase Wednesday represents 0.23 per cent of the listing unit's total share capital, thus lifting the Unicom Group's aggregate holding from 60.74 per cent to 60.97 per cent, or 12,924,318,307 shares.

* Unicom Group also committed to add no more than 2 per cent shares of the listing unit (including the purchase Wednesday) within a period of 12 months.

* Unicom Group's move follows the call of the State-owned Assets Supervision and Administration Commission (SASAC), the state assets regulator of China, last Thursday urging central holding companies to increase holdings in their listing units by open market purchases so as to stabilize the domestic stock market that has plunged more than 50 per cent this year.

For full details on China Unicom Limited ADS (CHU) click here. China Unicom Limited ADS (CHU) has Short Term PowerRatings of 4. Details on China Unicom Limited ADS (CHU) Short Term PowerRatings is available at This Link.

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