Tencent, Baidu to buy 35% in Unicom, Alibaba and China Life too join

Tencent, Baidu to buy 35% in Unicom, Alibaba and China Life too join

Photo: REUTERS/Petar Kujundzic/File Photo

Companies from Alibaba Group Holding Ltd. to China Life Insurance Co. will participate in a 78 billion yuan ($11.7 billion) share sale by China’s second-largest wireless carrier as part of a government push to draw private capital into its state-owned enterprises.

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