Telefónica Exits China Unicom Stake to Reduce Debt Burden
Telefónica SA has sold a 4.56% stake in China Unicom to China United Network, the parent group of the Chinese carrier, as the Spanish telecoms firm seeks to ease its financial pressures. The transaction will provide Telefónica with approximately HK$11 billion (about $1.4 billion) in cash once it is completed. Despite the sale, Telefónica will … Read more