|Day's Range||14.98 - 15.15|
|52 Week Range||9.89 - 15.15|
|PE Ratio (TTM)||251.33|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||15.37|
Is there any limit to Alibaba's bid for world domination? Clearly not, with reports the Chinese e-commerce giant could invest in one of the Middle Kingdom's big mobile carriers. Reuters has an exclusive story reporting that Alibaba (BABA) and Tencent (700.HK) are eyeing a stake in China Unicom (762.HK) (CHU).
Chinese tech giants Alibaba Group Holdings (BABA.N) and Tencent Holdings will be among new investors pouring a total of around $10 billion into mobile carrier China Unicom, sources said, part of efforts by Beijing to rejuvenate state behemoths with private cash. Four sources with knowledge of the matter told Reuters that Alibaba and Tencent would invest in the Shanghai-listed unit of the telecoms group - China United Network Communications Ltd - as part of the capital-raising effort. One of the sources said Alibaba and Tencent would lead the group of investors, while Baidu (BIDU.O), the third of China's constellation of tech giants, has pulled out.
China Telecom , the smallest of the three wireless carriers in China, has seen its wireless and wireline broadband subscriber base expand over the last few quarters, with its long-term outlook also remaining reasonably strong amid increasing demand for data services.