Korea Telecom Sells SK Stake
Korea Telecom's board of directors has agreed to sell 4 percent of the firm's 13.4-percent stake in SK Telecom, or 3.56 million shares, the state-run communication services provider said Thursday."After we decided to sell a part of our 11.94 million shares in SK Telecom last year, we have now decided on the volume to sell," an official at Korea Telecom said. "The selling price, the time to sell and the way of selling will be decided by the management team."
Korea Telecom has negotiated with SK Telecom to sell back a part of its stake in that company in order to secure money to invest in the next-generation wireless services and the Internet businesses. But it has not been decided to whom Korea Telecom will sell the stake.
with the Korea JoongAng Daily
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