Market Overview

Telefonica To Sell 4.56% Stake In China Unicom

Related TEF
1M 4G Users for Telefonica's O2 - Analyst Blog
Unitymedia to Acquire Mobile Stores - Analyst Blog
Related CHU
Goldman Sachs Calls Out Chinese Mobile Operators: Risk in China Mobile, Opportunity for China Telecom
China Mobile Slides as Earnings Fall - Analyst Blog

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


Most Popular

Related Articles (CHU + TEF)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free