ID :
88165
Fri, 11/06/2009 - 08:32
Auther :
Shortlink :
https://www.oananews.org//node/88165
The shortlink copeid
SK Telecom sells 3.8 pct stake in China Unicom
SEOUL, Nov. 6 (Yonhap) -- SK Telecom Co., South Korea's leading mobile carrier, said Friday that it has completed the sale of its 3.8 percent stake in China Unicom Ltd. in a move to adjust its business portfolio.
SK Telecom sold about 900 million shares of China Unicom, China's No. 2 mobile
provider, for 1.5 trillion won (US$1.26 billion), the South Korean company said
in a regulatory filing.
In July 2006, SK Telecom purchased $1 billion worth of convertible bonds issued
by China Unicom listed on the Hong Kong Stock Exchange. SK Telecom converted the
bonds into shares in August 2007.
SK Telecom said the proceeds will be used to boost its financial health, launch a
fixed-line and mobile convergence business in China and fund research and
development projects.
ylee@yna.co.kr
(END)
SK Telecom sold about 900 million shares of China Unicom, China's No. 2 mobile
provider, for 1.5 trillion won (US$1.26 billion), the South Korean company said
in a regulatory filing.
In July 2006, SK Telecom purchased $1 billion worth of convertible bonds issued
by China Unicom listed on the Hong Kong Stock Exchange. SK Telecom converted the
bonds into shares in August 2007.
SK Telecom said the proceeds will be used to boost its financial health, launch a
fixed-line and mobile convergence business in China and fund research and
development projects.
ylee@yna.co.kr
(END)
