Unicom (Hong Kong) Ltd<600050><0762><CHU>, the country's second-largest telecom operator, Thursday said it completed the purchase of a 3.8% stake held by South Korea's SK Telecom Co Ltd.
The repurchase shares will be cancelled as soon as possible after the transaction, and SK Telecom will not hold any shares in China Unicom, the Chinese carrier said in a statement.
In September, China Unicom announced a plan to buy back all 899.75 million of its shares from the South Korea-based company at HK$11.11 apiece.
After the share repurchase, the total shares of China Unicom will be cut to 22.87 billion from 23.77 billion.
H shares of China Unicom surged 3.2% to close at HK$10.76 on Friday.
