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SK Telecom is optimistic about the prospect of China Unicom, said an executive for the South Korean company, indicating that the telecoms operator will scramble for chances to increase its ownership at China Unicom's general shareholder meeting to be held on September 16.
However, SK Telecom has not revealed a detailed plan yet.
Notably, Spain-based Telefonica S.A. (NYSE: TEF) said earlier that it would lift its holdings in China Netcom Group Corporation (Hong Kong) Ltd. (SEHK: 0906, NYSE: CN) to 12.93% after buying another 5.74% stake in the company. After the deal, the European telecoms operator is expected to own around 5.5% of new China Unicom, replacing SK Telecom as the biggest foreign shareholder of the enlarged company.
From www.enet.com.cn, Page 1, Friday, September 12, 2008 info@SinoCast.Com
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