 The proposed merger of China Unicom and China Netcom Group Corp. today won the nod of approval from the independent proxy advisory firm Glass Lewis, as it recommended the shareholders of Unicom to vote in support of the merger at the Company’s Extraordinary General Meeting of shareholders to be held on 16 September 2008.
“Overall, we believe the merger offers compelling strategic benefits for the Company and its shareholders. The Company’s shareholders will have the opportunity to participate in a larger, more competitive entity with an expanded customer base and resources,” stated Glass Lewis.
The merger forms a part of the colossal reshuffling of the Chinese telecom industry that kicked off earlier in the year. |