Tidbits: UMPay, Giant Interactive, China Telecom

Today marks the launch of a new item consisting of occasional tidbits that aren’t big enough for individual articles but look interesting nonetheless, along with a thought or two on what it all means.

— UMPay: Chinese media are reporting that this joint venture between industry powerhouses China Mobile (HKEx: 941; NYSE: CHL) is applying for a license to provide electronic payment services. (English article) Given the two venture partners’ dominant position in both of their spaces, such a venture could quickly become a major player, threatening smaller e-payments companies as well as bigger ones like Alibaba’s Alipay.

— Giant Interactive (NYSE: GA): The company has announced a payout date of September 9 for its massive one-time dividend of $3 per share, which amounts to a whopping 36 percent of its latest closing share price. (company announcement) Its stock has risen about 50 cents a share since it announced the dividend early this month, clearly far less than the size of the dividend. I’ll be watching closely to see how the shares trade on September 12, after the dividend is paid.

— China Telecom (HKEx: 728; NYSE: CHA): Chinese media report the company recently launched a tender for more than 3 million set-top boxes — the clearest sign yet that China’s leading fixed-line carrier is close to a major launch for a video-on-demand type service that it has long talked about but has yet to appear. (English article) Such a service could provide a major source of new income, as the company struggles with steady declines for its fixed-line phone business.