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General

Telefonica sells China Unicom stake for EUR 322 mln

Monday 11 July 2016 | 08:51 CET | News
Telefonica has sold a 1.51 percent stake in China Unicom for around USD 322 million in a move to raise cash to reduce its net debt. According to a statement submitted to Spain's markets regulator CNMV, Telefonica sold 361.8 million shares at HKD 7.80 per share in a transaction managed by Bank of America. It still retains a stake of around 1 percent in China Unicom. The Spanish company recently shelved the planned IPO of mobile network O2 UK because of market instability following the UK vote to leave the EU.

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Categories: General
Companies: China Unicom / O2 UK / Telefonica
Countries: China / Spain
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