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Tencent and China Unicom receive approval for edge computing joint venture · TechNode – TechNode

Chinese tech giant Tencent and state-owned telecommunication company China Unicom have gained approval from Chinese authorities to set up a joint venture to focus on content delivery network (CDN) and edge computing. Subsidiaries of China Unicom and Tencent will hold 48% and 42% of the new company, respectively, a document on the State Administration for Market Regulation website showed on Oct. 27; employees of the joint venture will own the remaining 10% of shares. Chinese media outlet Caijing cited people who are familiar with the matter as denying interpretations that the move was a precursor to the nationalization of Tencent, as the action doesn’t involve an exchange of shares between the parent companies. The sources emphasized that the deal is not a “mixed ownership reform.” China Unicom explained that the joint venture is still in the process of being established and will have no significant impact on the company’s current business. [Caijing, in Chinese]

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