Market Overview

Telefonica To Sell 4.56% Stake In China Unicom

Share:
Related TEF
Blackstone Announces Cell Tower Buy, Real Estate Executive Hire
Berenberg Upgrades Telefonica To Hold
Orange Divests Majority Stake in Dailymotion to Vivendi - Analyst Blog (Zacks)
Related CHU
Credit Suisse Maintains Overweight On Chinese Telecoms Ahead Of Half-Year Earnings
Mid-Morning Market Update: Markets Open Higher; Kroger Earnings Beat Views
Chinese phone firms decline as country's markets sink (Seeking Alpha)

Telefonica SA (NYSE: TEF) agreed to sell a 4.56% stake in China Unicom (Hong Kong) Limited (NYSE: CHU) for around 1.13 billion euros ($1.74 billion).

The buyer is China United Network Communications Group Co Ltd. Telefonica last month posted downbeat earnings.

TEF shares declined 0.33% to $12.22 in the after-hours trading session, while CHU shares fell 0.51% to close at $13.55 on Friday.

Posted-In: merger and acquisitionNews M&A

 

Related Articles (CHU + TEF)

Around the Web, We're Loving...

Get Benzinga's Newsletters