BEIJING-China Unicom plans to raise additional funds, and the money will likely be used to acquire more regional networks or to refinance debt, according to market watchers.
Dow Jones reported that the Chinese GSM and CDMA operator has invited banks to advise it on a $750 million loan. The Financial Times reported that the listed unit of China Unicom confirmed it plans a new round of fundraising.
In other news, China Unicom will use a location technology based on the global positioning system from SnapTrack through an agreement with Motorola (China) Electronics Ltd. Under the agreement, Motorola will integrate SnapTrack’s SnapSmart location service software into its mobile communications system positioning server for China Unicom.
