Fri 03/19/2021 03:23 AM
A state-owned enterprise backed by the Shanghai municipal government has informally agreed to participate in the restructuring of technology conglomerate Tsinghua Unigroup, according to three sources familiar with the matter.
The Shanghai SOE could acquire some of Tsinghua Unigroup’s assets, said the first source, but the two parties have not signed any definitive agreement yet, according to the first two sources.
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