Saturday, September 5, 2009

Telefónica and China Unicom Expand Alliance

Telefónica and China Unicom announced plans to increase their financial stakes in each other's companies by investing $1 billion each.

Telefónica will increase its stake in China Unicom to 8.06%, from 5.38%. Meanwhile China Unicom will hold about 0.9% of Telefónica.

The companies are also working on ways to share infrastructure and strengthen their marketing alliance.

  • In February 2009, Telefónica and China Unicom agreed to develop integrated and mobile and 3G services.
    In addition, the agreement coverd a wide number of areas of collaboration such as developing innovative services, international business, joint procurement of network equipment, devices and handsets , platforms for innovative and advanced services, and services to corporate customers, among others.