Telefonica to invest 800 1000000 EUR to maintain its retention in People’s Republic of China Unicom
Oct 5, 2009 phones
Telefonica (NYSE: TEF) is exercise set to invest around 800 million EUR (about $1.16 one thousand million) to maintain its holding in People’s Republic of China Unicom, after the company has been merged with People’s Republic of China Netcom. After the merger and with additional money invested, Spanish people telecom giant star will remainder up with 5.5% share of the company.
According to the Wall Street Journal, Telefonica will increase its stake in People’s Republic of China Netcom from 5% to 9.91% for 368 million EUR. Then, after the merger is completed, Telefonica will step-up its retention again to bring it up to the 5.5% stake.
For the track record, Telefonica first acquired a post in People’s Republic of China Netcom in 2005 when it bought 2.99% of the troupe and increased this to 5% later. Last class, they said they’ll bargain a further 2.2% of the troupe…
Tags: telefonica
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