, Columnist
Unicom Hopes on Hold
Previous government-inspired shakeups have disappointed. This may be no different.
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Buying the targets of China's program to make state-owned companies more competitive has become a favorite game for investors. China Unicom shows the strategy is far from a sure bet.
The weakest of the nation's three mobile-phone operators disclosed on Oct. 10 that it was a candidate for "mixed-ownership" reform1476947296928, under which private capital will be allowed to play a bigger role in industries previously restricted to the state. Unicom's Hong Kong-traded shares surged 5.6 percent the following day, the biggest gain in almost two months.