China Unicom buying back 3.8% stake held by SK Telecom.
China Unicom Ltd is to buy back a 3.8 percent stake held by SK Telecom for about US$1.29 billion.
According to china Unicom, SK telecom will sell it back 899.75 million shares it holds in China Unicom.
“After the share repurchase, China Unicom will be pleased to maintain the sound cooperation partnership with SKT,” China Unicom Chairman Chang Xiaobing said in a statement.
The repurchased shares will be cancelled and the total shares of China Unicom will be reduced from 23.768 billion to about 22.868 billion.
(USD= 7.75 HKD)
China Unicom Ltd is to buy back a 3.8 percent stake held by SK Telecom for about US$1.29 billion.
According to China Unicom, SK telecom will sell it back 899.75 million shares it holds in China Unicom.
“After the share repurchase, China Unicom will be pleased to maintain the sound cooperation partnership with SKT,” China Unicom Chairman Chang Xiaobing said in a statement.
The repurchased shares will be cancelled and the total shares of China Unicom will be reduced from 23.768 billion to about 22.868 billion. (USD= 7.75 HKD)
