www.WirelessFederation.com/news: Telefonica, the Spanish mobile operator, intends to make investment of additional EUR 800 million in China Unicom (Hong Kong), taking its total shareholding to 5.5% up from 4.21%.
Under the terms of the transaction, Telefonica will raise its stake in China Netcom Group Corp, which was merged into China Unicom last year, to 9.91% for EUR 368 million. After the completion of transaction, Telefonica will be the largest private shareholder in China Unicom, enabling it to reinforce its position in the Chinese mobile market.