Spanish Telefonica has expressed interest to increase its stake in China Unicom from the current 8.37% that it holds. We have no clue when Telefonica will get additional share, nor how much that share will be, but we do know they don’t intent to grab a huge chunk.
Here’s what the company’s representative said to Spain’s Expansion newspaper: “We’ll do it little by little as we already know each other, trust each other, and that opens new possibilities.”
For the record, last October, the two companies completed a $1 billion purchase of each other’s shares. After the move, China Unicom got a 0.88% stake in Telefonica, whereas Telefonica’s shareholding in China Unicom increased to approximately 8% from 5.38%.
[Via: CellularNews]