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JD Digits buys 16.7% of Telefonica-China Unicom’s JV

TOPICS:
TelefónicaTelefónica considers revising strategic plan

Posted By: The Corner 25th April 2019

Renta 4 | JD Digits has invested through an increase in capital in Smart Steps Digital Technology Company, the JV created by Telefonica (TEF) and China Unicom to offer Big Data services to corporate Chinese clients.

JD Digits has invested 100 million yuan (13.2 M Euros) to buy 16.7% of the company. China Unicom will now control 48.5% and Telefónica 37.5%. The value of the investment is around 80 M Euros, more tan five times the initial value contributed by Telefónica.

 

 

 

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.