China’s Guodong Network Communication raised $150 mln from a Middle Eastern sovereign wealth fund

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Guodong Network Communication Group, a Chinese communications infrastructure and service provider, has raised $150 million from a Middle Eastern country’s sovereign wealth fund, said the deal’s advisor China Renaissance, without identifying the fund. 

The proceeds from the deal will be used to support the expansion of Guodong’s communication base stations, it said, citing Guodong’s deputy general manager Ji Xiaoling.

Guodong, which has 40,000 communications base stations and provides data centres that can support cloud computing in China, has received funds from investors including Morgan Stanley, the investment arms of CICC and CITIC and a sovereign wealth fund from Abu Dhabi, according to its website.