Credit Suisse analyst Colin McCallum upgraded China Unicom (CHU) to Outperform from Neutral following the company's results for the first half of 2019, saying he believes the company is tracking "broadly" in line given seasonality, and thinks the company is on track to meet its ESOP targets. China Unicom Chairman Wang has also talked up the prospect of network sharing for 5G, stating that Unicom was in discussions for a comprehensive network cooperation deal with China Telecom (CHA) or a roaming arrangement with China Mobile (CHL), McCallum tells investors in a research note, adding that Wang confirmed that if China Telecom and Unicom shared a 5G network, the total CapEx for each player might be "around half" of China Mobile's expenditure.