Davis Polk & Wardwell LLP advised China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs Inc. and Nomura Holdings Inc. as initial purchasers in connection with an approximately US$1.84 billion Regulation S offering by Billion Express Investments Limited, a subsidiary of China Unicom (Hong Kong) Limited, with an unconditional and irrevocable guarantee from China Unicom (Hong Kong) Limited of its 0.75% convertible bonds due 2015. The offering is the world's largest international convertible bond issuance by a PRC company to date.

China Unicom (Hong Kong) Limited, a Hong Kong- and New York-listed telecommunication service provider in China, is engaged in GSM and WCDMA cellular business in 31 provinces, municipalities and autonomous regions in China, the provision of fixed-line voice, broadband and other Internet-related services, information and communications technology services, business and data communications services, and other related telecommunication value-added businesses.

The Davis Polk corporate team included partners Show-Mao Chen and Howard Zhang, registered foreign lawyer Gerhard Radtke and associates Jason Pan and Bate Yu. Xiao Jing Yang was the legal assistant for the transaction. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.