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Telefonica is set to invest around 800 million EUR (about $1.16 billion) to maintain its holding in China Unicom, after the company has been merged with China Netcom. After the merger and with additional money invested, Spanish telecom giant will end up with 5.5% share of the company.
According to the Wall Street Journal, Telefonica will increase its stake in China Netcom from 5% to 9.91% for 368 million EUR. Then, after the merger is completed, Telefonica will increase its holding again to bring it up to the 5.5% stake.
For the record, Telefonica first acquired a stake in China Netcom in 2005 when it bought 2.99% of the company and increased this to 5% later. Last year, they said they’ll buy a further 2.2% of the company…
[Via: CellularNews]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
