Telefonica To Raise Stake In China Unicom To 10% This Year
June 10 2010 - 10:40AM
Dow Jones News
Telefonica SA (TEF) plans to increase its stake in China Unicom
(Hong Kong) Ltd. (CHU) from 8.4% to 10% this year, a company
spokesman said Thursday.
Telefonica has said it wants to increase its stake in China
Unicom to 10%, but hadn't said when.
Telefonica's Chairman Cesar Alierta made the comments about the
stake in New York in a meeting with journalists, the spokesman
added.
Telefonica has been growing its stake in the Chinese company as
it looks to tap the fast-growing Chinese telecommunications
market.
-By Jason Sinclair, Dow Jones Newswires, 34 913958127,
jason.sinclair@dowjones.com
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