Telefonica (TEF) is paying €1.1B ($1.6B) for a 2.7% stake in China Netcom (CN) - adding to...

|About: China Netcom Group Corp. (CN-OLD)|By:, SA News Editor

Telefonica (TEF) is paying €1.1B ($1.6B) for a 2.7% stake in China Netcom (CN) - adding to pending stakes. After investing €83B in Europe TEF has set it sites on China, where there are more mobile-phone users than the combined populations of the U.S., Japan and the UK.