REG - Telefonica SA - Sale of China Unicom's Shares -block trade process <Origin Href="QuoteRef">TEF.MC</Origin>

Telefonica SAAnnouncement

11/07/2016 07:00

RNS Number : 7534D
Telefonica SA
11 July 2016
RAMIRO SNCHEZ DE LERN GARCA-OVIES
General Secretary and
Secretary to the Board of Directors
TELEFNICA, S.A.
 
TELEFNICA, S.A. as provided in article 228 of the Spanish Securities Market Act (Ley del Mercado de Valores), hereby reports the following
SIGNIFICANT EVENT
Telefnica, S.A. through its 100% subsidiary, Telefnica Internacional, S.A.U. (hereinafter "Telefonica"), has proceeded with the sale of 361,794,559 shares of China Unicom (Hong Kong) Limited ("China Unicom"), representing 1.51% of the share capital of the company, by a block trade process, at a price of HK$ 7.80 per share, for a total amount of HK$ 2,822 million, approximately  322 million. Thus, Telefnica maintains a stake close to 1% in China Unicom.
This deal is part of Telefnica's proactive management of its asset portfolio and its mid-term deleveraging objective. Telefonica maintains its commitment to the Strategic Alliance with China Unicom, recently strengthened through cooperation in digital areas such as the big data joint venture between both companies.
Madrid, July 10, 2016.

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