China Unicom (Hong Kong) Ltd. (0762.HK) said Wednesday it and Telefonica SA (TEF) have completed their planned investment of US$1 billion in each other.

Telefonica has raised its stake in China Unicom to 8.06% from 5.38% and China Unicom has acquired a stake of 0.87% in Telefonica, the Chinese telecommunications operator said in a statement.

-By Joyce Li, Dow Jones Newswires; 852-2802-7002; joyce.li@dowjones.com
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