Under the deal, China United Network Communications Group, through its wholly-owned subsidiary, has agreed to acquire 4.56% of China Unicom from Telefónica for a total consideration of about US$1.4 billion. Completion of the acquisition is conditional upon the relevant PRC regulatory approvals for the acquisition having been obtained and is expected to take place by 31 July 2012.
The Freshfields team comprised China Chairman Teresa Ko and corporate partner Grace Huang.
