China Unicom follows iPhone deal with Telefónica pact

The Chinese and Spanish companies will buy stakes in one another worth $US1 billion each

Just weeks after signing a deal to sell iPhones in China, China Unicom moved to secure its relationship with Telefónica by agreeing to invest in the Spanish company and expand several existing arrangements.

China Unicom will pay around $US1 billion for a 0.88 percent stake in Telefónica and the Spanish telecommunications company will increase its investment in China Unicom by around $US1 billion to an 8 percent stake, from 5.38 percent currently, the two companies said in a joint statement.

The companies also expanded a strategic alliance meant to deepen their business dealings, including joint work on network and technology development, joint acquisition of infrastructure and equipment for customers, joint development of wireless service platforms, joint work to provide services to multinationals, mobile phone roaming, and sharing of technical, management and operational expertise.

The companies believe that their markets give them an advantage globally. Telefónica boasts over 264 million subscribers in Spain, Europe and Latin America, while China Unicom has 141 million mobile phone subscribers as well as subscribers to fixed lines and broadband Internet service in China.

Telefónica first gained a stake in China Unicom last October, after the company took over China Netcom, which Telefónica owned a stake in since 2005. China Unicom and Telefónica both run 3G (third generation mobile telecommunications) networks with WCDMA (wideband code division multiple access) technology.

China Unicom signed a 3-year deal with Apple just over a week ago to become the first Chinese carrier to sell iPhones in China.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags AppleiPhoneiphone 3giPhone 3GS

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?