BEIJING, Nov. 3, 2009 (Xinhua News Agency) -- China Unicom (OOTC:CHUFF) (Hong Kong)(0762.HK; 600050.SH; CHU.NYSE) said on Tuesday that its shareholders had approved its plan to buy back 3.8 percent of its stake held by SK Telecom (NYSE:SKM) at 9.99 billion HK dollars.

The company first announced the move to repurchase 899.8 million shares held by SK Telecom at 11.105 HK dollars per share in September.

It will finance the repurchase using its cash flow, working capital, or by external means.