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Telefonica has raised around $356 million by selling 1.51 percent of its stake to China Unicom.

Telefonica Sells 1.51% Stake to China Unicom for $356M

Jul 11, 2016 08:42 AM EDT

Spanish telecommunication provider Telefonica has raised around $356 million by selling 1.51 percent of its shares to China Unicom, the company said in a statement on Monday, July 11.

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