According to Reuters. the two firms join Alibaba, Tencent and others in the financing, which is designed to add resources to the previously state-owned mobile firm. All the parties declined comment to Reuters or did not respond to requests for comment, as did a representative of the Chinese government unit that oversees state-owned companies.
Why it matters: Mobile is the driving force for China's e-commerce and Internet companies; therefore it's in their collective interest to have strong competition and investment in mobile networks.
