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China Unicom And China Netcom Merger Expected To Close Soon

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The merger of state-owned China Unicom and China Netcom is expected to go through in early January, Dow Jones (NYSE: NWS) reports. The new China Unicom plans to enhance management efficiency and integrate the wireless and wireline networks to create a better portfolio of services. The merger, which is valued at $56.3 billion in stock, was initiated by a government-backed plan first announced in late May.