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

On 10.02.09, In Mobile, By Editor
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: • • • • • • • • • • • • •
 
0 Comments
Leave A Response

China Unicom & Spain Telefonica ink $1 Bn strategic alliance agreement

On 09.08.09, In Mobile, By Editor
China Unicom, one of the leading mobile operators in China, has reportedly inked a strategic alliance agreement with Spain Telefonica. Under the agreement, the two firms will exchange US$1 billion in shares. Telefonica will buy 693.91 million new shares in China Unicom at HK$11.17 each, while China Unicom will buy 40.73 million shares of Telefonica at EUR 17.38 a share.
After the transaction is made, China Unicom’s shareholding in Telefonica will reach 0.88%, while Telefonica’s shareholding in China Unicom will increase to approximately 8% from 5.38%.
Chang Xiaobing, Chairman of China Unicom, said the partnership will improve the company’s ability to provide telecom and information services and maximize shareholders’ returns.

www.WirelessFederation.com/news: China Unicom, one of the leading mobile operators in China, has reportedly inked a strategic alliance agreement with Spain Telefonica. Under the agreement, the two firms will exchange US$1 billion in shares. Telefonica will buy 693.91 million new shares in China Unicom at HK$11.17 each, while China Unicom will buy 40.73 million shares of Telefonica at EUR 17.38 a share.

After the transaction is made, China Unicom’s shareholding in Telefonica will reach 0.88%, while Telefonica’s shareholding in China Unicom will increase to approximately 8% from 5.38%.

Chang Xiaobing, Chairman of China Unicom, said the partnership will improve the company’s ability to provide telecom and information services and maximize shareholders’ returns.

Filed under:Mobile  Tagged with: • • • • •
 
0 Comments
Leave A Response

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

On 03.11.08, In Mobile, By Editor

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.

Wireless   

 

 

Filed under:Mobile  Tagged with: • • •
 
0 Comments
Leave A Response
Go To Top »