Market Overview

Telefonica To Sell 4.56% Stake In China Unicom

Share:
Related TEF
Mid-Day Market Update: Smith & Wesson Gains On Strong Outlook; Express Shares Slide
Mid-Morning Market Update: Markets Tumble; Morgan Stanley Profit Misses Estimates
The Zacks Analyst Blog Highlights: Comcast, T-Mobile US, China Mobile and Telefonica - Press Releases (Zacks)
Related CHU
China Unicom Full-Year Profit Surges 16%
Mid-Afternoon Market Update: Five Below Slips On Weak Outlook; Agenus Shares Spike Higher

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...