Deals
China's $9 Billion Plan to Boost 5G Undermined By Trade War
- State-owned China Tower wants to raise funds in Hong Kong IPO
- Worries about worsening U.S.-China ties make markets jittery
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A company that’s a key part of China’s ambitions to be a leader in cutting-edge wireless technology is preparing to go public to fund its expansion, but President Donald Trump’s trade war threatens to put a damper on what could be the world’s biggest initial public offering in almost four years.
State-controlled China Tower Corp., which operates almost 99 percent of the country’s wireless towers and charges its three carriers leasing fees, is preparing to raise as much as $8.7 billion in a Hong Kong IPO expected to start trading next month. That would be the biggest IPO since Alibaba Group Holding Ltd.’s 2014 offering.