Spain's Telefonica SA (TEF) has raised its stake in China's second largest mobile operator China Unicom (Hong Kong) Ltd. (0762.HK) to 9.01% from 8.99%, according to a disclosure filed to the Hong Kong stock exchange Wednesday.

On June 10, Spain's No. 1 telecommunications firm by market value bought 3.84 million China Unicom shares at an average price of HK$15.95 each, the statement said.

China Unicom closed 1.5% higher at HK$16.62 Wednesday.

-By Joanne Chiu, Dow Jones Newswires; 852-2802-7002; joanne.chiu@dowjones.com

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