BRIEF-Pandora Media Inc raised $172.5 million in equity financing
* Pandora Media Inc raised $172.5 million in equity financing from a total offering of $480 million Source text: (http://bit.ly/2sKYR3d) Further company coverage:
HONG KONG, March 15 Chinese state-owned telecommunications network operator China Unicom Hong Kong Ltd said on Wednesday net profit fell 94 percent last year, as expected, due to a rise in operating and marketing costs.
Profit fell to 630 million yuan ($91.16 million) from 10.56 billion yuan in 2015. In January, the company said it expected 2016 profit to slide 94 percent. Revenue fell to 274.20 billion yuan from 277.05 billion yuan.
The telco blamed the decline on additional operating and support expenses after disposing of network signal towers, as well as a substantial increase in sales and marketing costs.
China Unicom is in the first batch of state-owned enterprises marked for a pilot mixed-ownership programme. ($1 = 6.9110 Chinese yuan renminbi) (Reporting by Sijia Jiang; Editing by Christopher Cushing)
* General Atlantic LLC Reports 5.9 Pct Stake In 58.Com Inc as of June 13 Source text: (http://bit.ly/2tDZLyS) Further company coverage:
* Says it has determined not to pursue co's previously announced plan to create a new class of non-voting stock