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The following is the full text of China Unicom announcement:
On September 9, 2019, the fifteenth meeting of the sixth board of directors of China United Network Communications Co., Ltd. (hereinafter referred to as "the Company") deliberated and agreed that China United Network Communications Co., Ltd. (hereinafter referred to as "Unicom"), a wholly-owned subsidiary of China United Network Communications (Hong Kong) Co., Ltd., the holding subsidiary of the Company, was approved. Business Company) and China Telecom Co., Ltd. (referred to as "China Telecom") signed the "5G Network Co-construction and Sharing Framework Cooperation Agreement" (referred to as "Cooperation Agreement").
According to the cooperation agreement, Unicom will cooperate with China Telecom to build a 5G access network nationwide. The two sides will delimit the region and build zones. They will be responsible for the construction of 5G network in the delimited area, who will build, who will invest, who will maintain and who will bear the cost of network operation. 5G network co-construction and sharing adopt access network sharing mode, core network construction and 5G frequency resource sharing. The two sides jointly ensure that the network planning, construction, maintenance and service standards of 5G network joint construction and sharing area are unified, and the same level of service is guaranteed. The network co-construction and sharing cooperation between the two sides and the third party can not unduly damage the interests of the other party. The ownership of both users remains unchanged, and the brand and business operations remain independent.
In the area of network construction, the two sides will build 5G network in 15 urban zones (taking the total scale of their 4G base stations (including rooms) as the main reference. Beijing, Tianjin, Zhengzhou, Qingdao and Shijiazhuang are five cities in the north. The proportion of Unicom and China Telecom in the construction area is 6:4; Shanghai, Chongqing, Guangzhou, Shenzhen and Hangzhou. In 10 cities of Nanjing, Suzhou, Changsha, Wuhan and southern Chengdu, the ratio of Unicom Operating Company to China Telecom Construction Area is 4:6. Unicom will independently build nine cities in Guangdong Province, five cities in Zhejiang Province and eight northern provinces (Hebei, Henan, Heilongjiang, Jilin, Liaoning, Inner Mongolia, Shandong and Shanxi) outside the aforementioned areas; China Telecom will independently build 10 cities in Guangdong Province, five cities in Zhejiang Province and one of the aforementioned areas. Outside 17 southern provinces. The two sides will adhere to the principle of maximizing the benefits of Co-construction and sharing, conducive to sustainable cooperation, not using settlement as a means of profit, uphold fair and fair market-oriented settlement, and formulate reasonable and streamlined settlement methods.
The company believes that the co-construction and sharing of 5G network with China Telecom, especially the continuous 5G frequency sharing between the two sides, will help to reduce the cost of 5G network construction and operation and maintenance, effectively achieve 5G network coverage, rapidly form 5G service capability, enhance the market competitiveness of 5G network and services, and enhance network efficiency and asset operation efficiency. To achieve mutual benefit and win-win situation.
According to the progress of the cooperation agreement, the company will fulfill the obligation of information disclosure in time in strict accordance with the listing rules and other relevant laws and regulations.
I hereby announce.
China United Network Communications Co., Ltd.
September 9, 1919