Unicom/Telefonica share swap completed

22 Oct 2009

Telefonica has carried out a planned share swap with China’s Unicom, with each company buying USD1 billion of the other’s shares. Under the terms of the deal, announced in early September, Telefonica’s stake in Unicom rises to 8.06% from 5.38%. Unicom, meanwhile, has acquired 0.9% of Telefonica.

China, Spain, China Unicom, Telefonica