Telefonica to sell China Unicom stake for USD 875 mln

Monday 10 November 2014 | 15:22 CET | News
Telefonica is looking to sell around half of its five percent stake in Chinese mobile operator China Unicom for as much as USD 875 million. The Spanish group is offering 597.8 million China Unicom shares at HKD 11.14 to HKD 11.34 each, according to Bloomberg, which represents a 1.2 percent to 3 percent discount on the Chinese operator's last closing price in Hong Kong. Telefonica has been present in the Chinese telecommunications market since 2005 when it first acquired a 3 percent stake in China Netcom, which was then sold to Unicom in 2008. The Spanish operator then increased its stake in

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Categories: General
Companies: China Netcom / China Unicom / GVT / Telecom Italia / Telefonica / Vivendi
Countries: China / Spain
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