Sina Tech, 6/07/18
Chinese internet conglomerate Tencent (0700.HK) and Zhejiang-based automobile manufacturer and distributor Geely Holding (0175.HK) recently announced that they have successfully completed a joint bid to acquire a 49% stake in bullet train Wi-Fi services provider Bullet Train Networks Technology, a subsidiary of China Railway Corporation. In the future, the companies will work with China Railway Corporation and other related enterprises to operate high-speed railway value-added services.
Bullet Train Networks Technology was established in December 2017 as China Railway Corporation's sole subsidiary provider of high-speed railway Wi-Fi services.
Bullet Train Networks Technology will offer in-train Wi-Fi connection services for passengers and will develop additional value-added services such as casual culture and entertainment content, news services, business travel office services, shopping deals, and interline travel services. In the future, the company will also use railway member users as a link to further expand its range of daily life services.
Editor's Note: For more information on this topic, please see Tencent to Bid for Stake in Bullet-train Wi-Fi Provider, MD 4/13/18 issue.