Complex sentence: In January 2011, the two partners agreed a further $500M tie-up in each other, which following completion in late 2011, Telefónica will hold a 9.7% stake in China Unicom, while China Unicom will own 1.4% of the Spanish firm.
Split into simpler sentences: In January 2011, the two partners agreed to a further $500M tie-up in each other. Following completion in late 2011, Telefónica will hold a 9.7% stake in China Unicom, and China Unicom will own 1.4% of the Spanish firm.