Tuesday, January 25, 2011

Mobile - Telefonica and China Unicomare to expand their alliance

[bbc] Spanish telecoms firm Telefonica and Chinese operator China Unicom have agreed to expand their alliance, with both investing an additional $500m (£312m; 367m euros) in the other.

Following the new investments, Telefonica will hold a 9.7% stake in its Chinese partner, while China Unicom will own 1.4% of the Spanish firm.

Under the agreement, China Unicom could get a seat on Telefonica's board.

In 2009, the two partners agreed a tie-up and invested $1bn in each other.

Telefonica and China Unicom strengthen ties

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