HONG KONG (Thomson Financial) - Telefonica, the world's fourth-biggest
telecommunications company, plans to acquire a 10 percent stake in China Unicom,
the smaller of the two mobile phone operators in the mainland, the Financial
Times reported on Thursday, citing Chairman Cesar Alierta.
Telefonica owns a 7.2 percent stake in fixed-line phone company China
Netcom. Telefonica's
stake will be diluted to about 3 percent once China Unicom acquires China Netcom
this year.
China has started the much-awaited revamp of its telecom industry this
month, which entails the merger of some of the state-owned companies.
jun.ebias@thomsonreuters.com
je/ms
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|