Telefonica, Spain’s largest telecommunication company is surefooted that its footprint in China will flare up, following the merger of its partner China Netcom and China Unicom, said its Chief Executive Julio Linares.
“We are happy to have this opportunity to strengthen our presence in China,” Linares told reporters on Monday in Santander.
The company, which currently owns 5 percent stake in China Netcom, allowing it to have two board seats, is reportedly seeking to increase its stake to 7 percent before the actual merger takes place.
Telefonica’s collaboration with China Netcom includes joint purchasing of equipment and joint development of new services.
Source:telecomtiger
