China Unicom, KDDI Ties on Mobile Phone

China Unicom Ltd and Japan's KDDI Corp signed a comprehensive tie-up agreement in the mobile phone business Monday, the Yomiuri Shimbun reported Tuesday.

Officials at both companies were not available for immediate comment.

Both companies are the second largest telecom operators in their respective countries.

They will cooperate in various fields including Internet access services and technology for next generation mobile phones, the newspaper reported in its Tuesday evening edition.

China Unicom and KDDI will sign a memorandum of the alliance in Tuesday afternoon in Beijing, the daily said.

Shares in KDDI closed at 563,000 yen on Tuesday, down 0.35 percent. China Unicom eked out a 1.6 percent gain at HK12.7 (US$1.6) on Hong Seng exchange.

People's Daily Online ---