Merger With China Netcom
On June 2, 2008, China Unicom announced its intention to sell its CDMA business and assets to China Telecom for a combined total of 110 billion RMB and to merge the remainder of the company, in a share swap valued at USD $56.3 billion (based on Unicom's stock last traded price) on June 2, 2008, with China Netcom. The CDMA business was officially moved to China Telecom in early November. It also continues the former China Netcom's and the former China Telecom's PHS mobile phone businesses.
In February 2000 China Unicom became incorporated in Hong Kong and was listed on the Hong Kong Stock Exchange on 22 June 2000. They are an MVNO running on Three's 2G network. They are the only provider to sell SIMs that provide native phone numbers on both sides of the border (charging slightly higher rates than local while in the mainland, but cheaper than roaming with another provider- in some cases even cheaper than a SIM from another Chinese province if being used in Shenzhen/Guangzhou area).
Read more about this topic: China Unicom
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