China's business press carried the following stories on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

China Unicom denies bid for Nigeria telecom company — Securities Times

China Unicom, China's No. 2 mobile carrier, denied Monday that it was bidding for Nigeria's former state telecoms monopoly.

"The company has not participated in any direct discussions or negotiations with any relevant parties involved in the proposed privatization," Unicom said in a statement.

"The company will continue to observe the development of the proposed privatization, and will make announcements as and when appropriate."

The Nigerian National Council on Privatization announced last Tuesday that a US$2.5 billion bid for Nortel was led by a consortium including Unicom.

HK police raid Richard Li’s home — NBD.com.cn

Hong Kong police have raided three apartments belonging to Richard Li Tzar-kai, chairman of Hong Kong telephone firm PCCW, as part of a probe linked to a failed bid to take the company private last year.

During the past week, officers from the Commercial Crime Bureau also searched offices occupied by Li who is the younger son of Hong Kong's richest man, Mr Li Ka Shing.

The police are probing Li's failed attempt to take PCCW private last year – a deal that was blocked when the Court of Appeal ruled that a shareholders' vote had been rigged.

"Richard Li has not been implicated in any wrongdoing,"Martin Rogers, a lawyer for Mr. Li from the law firm Clifford Chance, said in a statement. "Mr. Li will cooperate fully with any investigation and wishes to see it resolved as soon as practically possible.”

PCCW's shares dipped as much as 2.4 percent on Monday following the news and finished the day down 0.469 percent at HK$2.12 in a market that gained 2.43 percent overall. PCCW's stock has halved in price in the past 12 months.