Chinese railway operator China Railway is planning to sell 49 percent stake of its wholly owned Wi-Fi subsidiary Bullet Train Networks for more than 3 billion yuan (480 million USD), according to an announcement out of the China Beijing Equity¹ Exchange.

 

北京产权交易所的一份通告显示，中国铁路计划将其全资拥有的高铁WiFi网以30多亿元（4.8亿美元）的价格出售49%股份。

 

The decision is part of the company's mixed ownership reforms to introduce high-quality private investment into its specialty² and technology subsidiaries.

 

It's being reported Chinese internet giants such as Tencent and Alibaba may be competing for the bid.

 

The Bullet Train Networks is established in December, 2017.

 

So far, it is the sole operator of Wi-Fi services on selected bullet trains in China.

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