Sunday, November 13, 2005

China Netcom and Telefonica Sign Strategic Alliance

China Netcom and the Telefónica Group formally entered into a strategic alliance. The deal will become effective after the completion of the acquisition of the additional shares by Telefónica, representing the difference between the existing stake of 5% of the outstanding issued shares held by Telefónica and 9.9% of the entire issued share capital of the company outstanding from time to time.

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