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China Unicom and Telefonica Strengthen Their Strategic Alliance and Agree on a New Mutual Investment

BEIJING MADRID Jan. 23, 2011

US$500 million 17.16 Euros 14 January 2011 China

Furthermore, the Board of Directors of Telefonica will propose at the next General Shareholders’ Meeting the appointment of a new member of the Board of Directors representing China Unicom.

US$1 billion

Cesar Alierta

September 2009

Cesar Alierta

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About China Unicom

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31 December 2010


China Unicom and Telefonica would like to caution readers about the forward-looking nature of some of the statements in this press release. These forward-looking statements are subject to various risks and uncertainties, including future changes in our competitive and regulatory environment, future growth rates of the Chinese economy and its telecommunications industry, changes in telecommunications-related technologies and applications and other factors that will affect the execution of our business plans and strategies.

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