China Unicom considers spin-off of subsidiary

China Unicom (Hong Kong) Ltd, a major Chinese telecom operator, said on Thursday it is considering a proposed spin-off and separate listing of China Unicom Smart Connection Technology Ltd in the nation's A-share market.

China Unicom Smart Connection Technology's businesses focus is in the field of internet-equipped vehicles, including smart connection, operation and application.

China Unicom said the move will accelerate enterprise value enhancement and realization. Upon the spin-off and listing, China Unicom Smart Connection Technology, as an independent listed company, can strengthen its financing ability and operational flexibility, better attract talents and strategic partners, enhance its competitiveness, accelerate its business development and improve returns.