Telefonica Spain to increase it’s stake in China Netcom by 5.74% (Spain, China)Telefonica Spain has agreed to higher it’s stake in China Netcom by nearly 5.74%.
The deal will be divided into two stages, in which during the first stage the costing around 368 million euros ($534 million) and during the second it will be between 392 and 434 million euros.
Post- purchase, Telefonica will become the leading private shareholder in the company which will a product of the merger of China Netcom and China Unicom with a stake of 5.5 percent.
