Telefonica to raise China Netcom stake to 7.2%

18 Jan 2008

Telefonica has agreed to buy an additional 2.22% of China Netcom for about EUR309 million (USD453 million) to take its stake in the company to 7.22%. Telefonica, which bought its original 5% of Netcom in 2005 for EUR418 million, is expected to raise its stake to 10% in the short-term.

China, China Netcom, Telefonica