Stock Holding
China Unicom (BVI) Limited effectively holds 40.92% of the company, and China Netcom Group (BVI) Limited holds 29.49%,
In 2009, China UniCom agreed a $1Bn cross-holding with Spanish-based operator Telefonica. In January 2011, the two partners agreed a further $500M tie-up in each other, which following completion in late 2011, Telefonica will hold a 9.7% stake in China UniCom, while China Unicom will own 1.4% of the Spanish firm.
The residual shares are traded on the Shanghai, Hong Kong and the New York stock exchanges. Both majority shareholders are state controlled enterprises.
In January 2011, China Unicom and Telefónica S.L strengthened their strategic partnership through a new share exchange. In June 2012, China Unicom Ltd. had agreed to buy back about 1.1 billion shares or about 4.56 percent stake from Telefonica with total for 11 billion HK$ ($1.4 billion). Telefonica will still own 5 percent of China Unicom Ltd. and the deal is expected to close by the end of July 2012.
Read more about this topic: China Unicom
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