Telefonica agrees to buy 2.22 per cent stake in China Netcom (China)

Advanced Search

Feedback

Reader's Poll

Any data to show

Teledata

Mobile Subscribers Yearwise comparision

Telefonica agrees to buy 2.22 per cent stake in China Netcom (China)

February 15, 2008

Be the first to comment!

Spain's Telefonica has reportedly agreed to buy another 2.22 per cent stake in China Netcom for about 309 million euro. The move will raise Telefonica's stake in the company to 7.22 per cent. The Spain-based telecom operator, which bought 5 per cent of China Netcom in 2005 for 418 million euro, had earlier planned to raise its stake in China Netcom to 10 per cent by the end of 2007. China Netcom is 70 per cent owned by the state-controlled China Network Communications Group, which is willing to sell its stake as long as it maintains a majority stake.