China Unicom buying back 3.8% stake held by SK Telecom.

By Editor on October 2, 2009 · Leave a Comment

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)

Filed under Mobile · Tagged with Chairman Chang, chang xiaobing, China, China Unicom, china unicom ltd, Cooperation, HKD, Partnership, repurchase, SK Telecom, skt, statement, USD, Xiaobing

China Unicom plans to pour $2.8b in GSM upgrade (China)

By Editor on March 11, 2008 · Leave a Comment

Chinese mobile service operator China Unicom will invest no less than 20 billion yuan ($2.8 billion) to upgrade its GSM network in 2008.

China Unicom chairman Chang Xiaobing also said the pending reshuffle of China’s telecom industry will not influence China Unicom’s investment scheme. And the company will maintain the investment policy to make decisions according to its business requirement.

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