Biz / Tech

China Unicom drops 6.7 percent after surging by daily cap consecutively

China's second-biggest telco attracts investment of US$7.8 billion 

Shanghai-listed China Unicom, which received a 78 billion yuan (US$11.5 billion) investment, fell 6.7 percent today, ending a surge by the 10 percent daily cap in the previous two trading days.

China Unicom’s new strategic investors are Internet giants, industry leaders and special funds, including Baidu, Alibaba, Tencent and They will take a 35.2 percent stake in China Unicom while the state-owned China Unicom Group will hold 36.7 percent.

China Unicom shed 6.7 percent to close at 8.36 yuan, compared with a 0.49 percent dip of the Shanghai stock index yesterday. Hong Kong-listed China Unicom dropped 2.99 percent today.

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