Chinese telco fundraising drive leads China Unicom to float connected cars unit

China Unicom has shared plans to spin off and list its majority-owned SMART Connection technology business in mainland China.
The decision marks the latest move from one of China’s big three state-owned telecoms operators to seek additional domestic stock market flotations to raise funds after they lost their appeal against expulsion from the NYSE earlier this year.
The removal of the Chinese telcos from the New York Stock Exchange came at the behest of former US president Donald Trump, am