Telefonica Sells 1.51% Stake In China Unicom For EUR 322 Mln - Quick Facts

(RTTNews) - Spainish telecom group Telefonica SA (TDE.L, TEF) reported Monday said the company, through its subsidiary, Telefónica Internacional, S.A.U., has proceeded with the sale of 361.8 million shares of China Unicom (Hong Kong) Limited by a block trade process, at a price of HK$ 7.80 per share.

This represents 1.51% of the share capital of the company. The sale is for a total amount of HK$2.82 billion, or approximately 322 million euros. Telefonica maintains a stake close to 1% in China Unicom.

The company said the deal is part of its proactive management of its asset portfolio and its mid-term deleveraging objective.

Telefonica maintains its commitment to the Strategic Alliance with China Unicom, recently strengthened through cooperation in digital areas such as the big data joint venture between both companies.