China Unicom and Spain’s Telefonica SA have invested $1 billion in each other.

China Unicom and Spain’s Telefonica SA have invested $1 billion in each other. As part of the share-swap agreement signed between the two companies, Telefonica has raised its stake in China Unicom from 5.38 per cent to 8.06 per cent, while China Unicom has acquired a 0.87 per cent stake in Telefonica.