China Unicom rumored to seek financial consultant

Reuters quoted market sources as saying that China Unicom (0762) is looking for an investment bank as its financial consultant in order to push the financing for the acquisition of mobile networks in 18 provinces. 

Among the list are China International Finance, Morgan Stanley and Credit Suisse First Boston.

The acquisition of networks in 18 provinces is estimated to stand at US$5-10 bln, and China Unicom also planned to acquire pager and data transfer services in Tianjin, Chongqing and Chengdu from its parent company.

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